Vehicles on U.S. Roads Keep Getting Older
The average age of vehicles on the road in the U.S. has topped 12 years old for the first time, according to IHS Markit. The average age of vehicles on the road is 12.1 years, up from 11.9 in 2020, according to IHS.
The report reflects a continuation of a long-running trend of vehicles staying on the road longer, illustrating the increased durability but also reflecting their higher value. People held onto auto because they weren’t driving as much. And consumers purchased fewer vehicles because of pandemic-related lockdowns. “The pandemic-induced rate of increase in average age is expected to be short-lived as 2021 will see a return of new vehicle registrations and increased activity in used registrations as we adapt to post-pandemic norms,” IHS said.