The average age of automobiles and light trucks that circulate in USA has reached the record figure of 12.6 years, two months more than in 2023, according to a report released this Wednesday by the firm S&P Global Mobility.
The report’s figures indicate that in the United States there are about 110 million vehicles between 6 and 14 years old, around 38% of all the cars and light trucks that circulate in the country.
And by 2028, the share of vehicles in this range will reach 40% although the report also found that the increase in the average age is slowing. In January of this year, the number of vehicles circulating in the US reached 286 million, 2 million more than in 2023.
But although the total number has experienced few changes, the distribution of vehicles by age is having greater variations.
While in 2019 there were 98 million vehicles less than six years old, a 35% Of the total, at this time the figure has been reduced to 90 million. By 2028 they will be only the 30% of vehicles in operation.
The main reason for this aging of the fleet is the impact that covid-19 had on the sector’s supply chain, which reduced production and the number of registrations. Furthermore, between 2015 and 2019, the country recorded a record number of registrations.
The S&P Global Mobility report highlighted that the aging automobile fleet offers an opportunity for the parts and repair sectors.
Todd Campau, representative of S&P Global Mobility, stated in a statement that ““With the average age increasing, more vehicles are falling into the perfect range for after-sales service, which is typically between 6 and 14 years old.”
In fact, in the next five years, the proportion of vehicles more than six years old will reach 70% of the total, “which will mean a bonanza of opportunities for after-sales service,” the report explained.
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Source: Gestion
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