Average Age Of Light Vehicles Increases To 12.1 years

Average Age Of Light Vehicles Increases To 12.1 years

That is about two months older than it was in 2020, which was the previous record.

The average age of light vehicles in operation rose to 12.1 years in 2021, according to research by IHS Markit. That is about two months older than it was in 2020, which was the previous record.

The reason for the increase, unsurprisingly, was COVID-19. The lockdown caused a decrease in new vehicle sales, which will tend to raise the average age. There was also an increase in the scrappage rate, according to IHS Markit, as working from home (or unemployment) caused some vehicle owners to let their registrations expire. The number of vehicles in operation (VIO) actually declined in 2020, down to 279 million vehicles. There had been 281 million VIO in 2019.

They also point out that the record new car sales years starting five years ago are causing a bulge of vehicles in the “aftermarket sweet spot” of vehicles that are between six and 11 years old, which should provide a tailwind to aftermarket sales growth.

IHS Markit also points out that the number of electric vehicles in operation is now close to one million units, with an average age of 3.9 years. As the number of electric vehicles increases, and more older EVs take up market share, there will be more opportunities for aftermarket repair.

See https://ihsmarkit.com/research-analysis/average-age-of-us-light-trucks-and-cars-approaches-12-years.html for more information.

You May Also Like

Vehicle Quality Trending in the Wrong Direction: JD Power

From cupholders and door handles to ADAS features, reported problems are rising at record levels.

The proliferation of technology in today’s vehicles might be coming at a cost.

According to J.D. Power’s 2023 U.S. Initial Quality Study, the number of problems per 100 vehicles (PP100) has gone up by a record 30 PP100 over the past two years – suggesting that quality is taking a backseat to innovation in the auto industry.

Japanese-Brand Automakers in US: $60.4B in Plants, 2.29M Jobs

New data highlights Japanese-brand automakers’ contributions to the U.S. economy and workforce.

Toyota Transforms Alabama Engine Plant with Clean Energy

Toyota, Toyota Tsusho America and Huntsville Utilities announce 168-acre solar project.

IIHS Strengthens Requirements for TOP SAFETY PICK Awards

Only 48 models qualify for 2023 awards thanks to stiffer requirements for headlights and side crash protection.

Magna Wins GM Battery Enclosures Business 

Magna will supply battery enclosures for the all-new 2024 Chevrolet Silverado EV.

Other Posts
Economic Factors Affecting B2B/B2C Channels in the Aftermarket

We unravel the impact of elements influencing the aftermarket to provide insights and strategies for businesses to thrive.

Economic factors auto afterarket
Light Vehicle Average Age Hits Record High

This is the sixth straight year of increase in the average vehicle age of the U.S. fleet, according to S&P Global Mobility.

Magna’s ClearView Vision System Comes to Market on Ram Truck

The product combines interior and exterior mirrors, cameras, electronics and software.

Bridgestone Partners with Lamborghini on Supercar Run-Flat

Bridgestone says the Dueler All-Terrain AT002 is the first supercar all-terrain tire featuring run-flat technology.