Average age of US passenger vehicles on the road raches 12.5 years after its sixth year of increase

Per S&P Global Mobility

It was recently reported that the average age of vehicles in the US that were still operational has increased for the sixth year in a row. Now, that average sits at 12.5 years.

The country reportedly has over 284 million vehicles in operation (VIO) on its roads. This came as no surprise and aligned with S&P Global Mobility's predictions on vehicle age in the US.

The report factored in the constraints on new vehicle sales and how the average age would be affected. The rate increase reflects the 2008-2009 recession, where there was a steep decline in demand for new vehicles, which resulted in a sharp acceleration fo average age above its normal rate.

S&P Global Mobility associate director of aftermarket solutions, Todd Campau, gave a statement regarding the situation and their expectations. He also shared how they are looking towards new vehicle historical norms returning in 2024.

Campau: "We expected the confluence of factors impacting the fleet coming out of 2021 would provide further upward pressure on average vehicle age. But the pressure was amplified in the back half of 2022 as interest rates and inflation began to take their toll,"

Toward the end of April, it was reported that nearly half of Americans thought it to be unlikely that they would buy an electric vehicle as their next car. Per a poll, it was found that only 19% of participants thought that it was "very" or "extremely" likely that their next car purchase would be an EV.

In March, it was reported that the price sale of the average new car also saw a drop to below sticker price for the first time in almost two years. This came as US car dealerships saw around 1.89 million new vehicles in their inventories.

See flow at unusualwhales.com/flow.

Other News:

Resources:

S&P Global Mobility

tastytrade logo+
Get the best broker for options trading and earn Unusual Whales discounted! in cash with an eligible account deposit at tastytrade. Get an Unusual Whales bonus when you deposit $2000. Offer expires 3/31/25. Certain restrictions, terms and conditions apply.
Unusual Whales does not confirm the information's truthfulness or accuracy of the associated references, data, and cannot verify any of the information. Any content on this site or related pages are not intended to provide legal, tax, investment or insurance advice. Unusual Whales Inc. is not registered as a securities broker-dealer or an investment adviser with the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority (“FINRA”) or any state securities regulatory authority. Nothing on Unusual Whales should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security by Unusual Whales or any third party. Options, investing, trading is risky, and losses are more expected than profits. Please do own research before investing. Please only subscribe after reading our full terms and understanding options and the market, and the inherent risks of trading. It is highly recommended not to trade on this, or any, information from Unusual Whales. Markets are risky, and you will likely lose some or all of your capital. Please check our terms for full details.
Any content on this site or related pages are not intended to provide legal, tax, investment or insurance advice. Unusual Whales Inc. is not registered as a securities broker-dealer or an investment adviser with the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority (“FINRA”) or any state securities regulatory authority. Nothing on Unusual Whales should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security by Unusual Whales or any third party. Certain investment planning tools available on Unusual Whales may provide general investment education based on your input. You are solely responsible for determining whether any investment, investment strategy, security or related transaction is appropriate for you based on your personal investment objectives, financial circumstances and risk tolerance. You should consult your legal or tax professional regarding your specific situation. See terms for more information.