Average Age of Cars on U.S. Roads Reaches Record 12.6 Years

The average age of cars on U.S. roads hits a record 12.6 years due to rising new car prices, pandemic effects, and consumer hesitation.

According to a study by S&P Global Mobility, the average age of cars on U.S. roads has reached a historic high of 12.6 years, an increase of two months compared to 2023.

This rise is attributed to several factors, including the ongoing impact of the pandemic, increased new car prices, and consumer reluctance to switch to electric vehicles.

electric vehicles

This marks the seventh consecutive year of growth in the average car age in the U.S. Vehicles aged 1-5 years now only constitute 35% of the total, a decrease of approximately 2 million from the previous year, totaling around 88 million cars.

Meanwhile, the total number of cars on U.S. roads has increased to 286 million, up by 2 million from the previous year, indicating a trend toward delaying the replacement of older vehicles.

The study predicts that cars aged 6-14 years will continue to drive the average vehicle age higher.

Since 2020, 27 million sedans and 26 million light trucks have been retired, whereas the new registrations include 13 million sedans and 45 million light trucks, highlighting a preference for utility vehicles.

Electric vehicle (EV) ownership is also on the rise, with 3.2 million EVs on U.S. roads as of January.

In 2023 alone, EV registrations surpassed 1 million for the first time, although adoption remains slower than many manufacturers anticipated.

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Average Age of Cars on U.S. Roads Reaches Record 12.6 Years

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