The average age of U.S. light vehicles rose to 12.8 years, an increase of two months for the second consecutive year, according to new analysis from S&P Global Mobility.
Vehicle registrations surpassed 16 million in 2024 for the first time since 2019, but it was not enough to offset the growing volume of aged vehicles as vehicles in operation grew to 289 million with a steady 4.5% scrappage rate. Passenger cars dropped below 100 million for the first time since the 1970s according to S&P Global Mobility’s research.
“Passenger cars are continuing a steady decline toward equilibrium as consumer preference
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