The average age of light vehicles in operation (VIO) in the U.S. has risen again this year to 11.8 years, according to new research from business information provider IHS Markit (NASDAQ: INFO).
This acceleration of average age can easily be seen when looking across the last 17 years. From 2002-2007, the average age of light vehicles in the U.S. increased by 3.5 percent. From 2008-2013, however, the increase was 12.2 percent. Over the last five years, the average age increase has returned to its more traditional rate – aging by 4 percent over this time period.
“Better technology and overall
Subscribers need to be logged in to see rest of this article. Please Login to access. If you're not a subscriber, click here for information on our satisfaction guaranteed subscription options.