Average Age Of Vehicles On U.S. Roads Hits An All-Time Record
How old is your car? Chances are - if you're like the average American driver, the wheels you're behind are almost 11 years old. And, that's an all-time record.
The average age of a car or truck in the U.S. hit a record 10.8 years last year as job security and other economic worries kept many people from making big-ticket purchases such as a new car.
That's up from the old record of 10.6 years in 2010, and it and continues a trend that dates to 1995, when the average age of a car was 8.4 years, according to a study of state vehicle registration data by the based Polk automotive research firm.
Obviously that data is tied to the economy - which analysts say is showing some signs of improvement.
In 2011, auto sales rebounded a bit to 12.8 million vehicles, especially in November and December, when sales were unusually strong. Last year, U.S. sales totaled 11.6 million. Many analysts expect this year to be better than 2011, anywhere from 13.5 million to more than 14 million vehicles. Even 14 million is still below what industry analysts consider a normal sales rate of close to 15 million per year, and far lower than the U.S. sales peak of 17 million sales in 2005.