The average age of vehicles in the US is around 11.4 years, remaining steady for two years. This plateau follows a period of rapid growth after the Great Recession, according to IHS Automotive. Experts attribute this stabilization to factors like the economy and improved vehicle quality.
IHS Automotive analyst Mark Seng notes the historical trend of increasing vehicle age, but anticipates a continued plateau for the next few years. Projections suggest the average age will hold steady through 2015, rising to 11.5 years by 2017 and 11.7 years by 2019.
Interestingly, the vehicle scrappage rate, representing the number of vehicles sent to junkyards, decreased to just over 11.5 million last year. This contrasts with the record high of over 14 million vehicles scrapped in 2012.
Simultaneously, the number of vehicles on US roads reached a new peak of nearly 253 million. This represents a significant increase of over 3.7 million vehicles (1.5%) compared to the previous year, a level unseen since 2004-2005, according to IHS Automotive. This 253 Automotive milestone highlights the robust size of the current vehicle population in the United States.
This growth in the total number of vehicles, coupled with the stable average age, indicates a healthy and active automotive market. While the scrappage rate decline suggests vehicles are lasting longer, the consistent influx of new vehicles contributes to the record number on the roads. This interplay between vehicle longevity and new car sales continues to shape the 253 automotive landscape.
