This is the sixth straight year of increase in the average vehicle age of the U.S. fleet, according to S&P Global Mobility.
Looking back at auto sales from years past also brings to light some good news for the aftermarket.
“Cancel the obituary of the Internal Combustion Vehicle,” said Jim Lang, president and lead author of the report.
This acceleration of average age can easily be seen when looking across the past 17 years, according to the research firm.
The company has released an updated version of its demand forecasting software using vehicles in operation (VIO) and replacement rate data.