An article yesterday in the Wall Street Journal warns that the “chip famine” starving vehicle manufacturers of needed electronics will likely continue widely into late 2022 and further for more advanced chips. The article, by David Yergin, vice chairman of IHS Markit, and Matteo Fini, vice president for automotive supply chain and technology at IHS […]
Average Age of Cars and Light Trucks in the U.S. Rises to 12.1 years
Pandemic accelerated age of vehicles. Vehicles in operation declines. New research from IHS Markit (NYSE:INFO) shows that the average age of light vehicles in operation (VIO) in the U.S. has risen to 12.1 years this year, increasing by nearly 2 months during 2020 and elevated by the COVID-19 pandemic. The increase in average age will […]
Electric Vehicle Share in the US Reaches Record 1.8% in 2020
Electric vehicle (EV) registrations in the US in 2020 reached record market share of 1.8%, demonstrating increased consumer interest for electric vehicles, according to new analysis from IHS Markit (NYSE:INFO), the information, analytics and solutions provider. December 2020 also represented the highest monthly share for EV new registrations, at 2.5% of the industry – a […]
Average Light Vehicle Age Rises in U.S. to 11.8 Years
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 […]
US Light Vehicle Market to See Increased Product Launch Activity in 2018
Automakers are expected to see launch of about 75 new models in 2018; contrasting with about 53 in 2017 and an expected 56 in 2019, according to IHS Markit forecasts. IHS Markit has reviewed expected major new-product launches from 2017 through 2019. The firm forecasts about 75 new models will see market sales launch throughout […]
IHS Markit Predicts Global Auto Sales Set to Reach 93.5 Million in 2017
While global sales are projected to increase, North America is projected to have a slight decline. Report cautions of risk of downtown in mature markets. According to the most recent forecast from IHS Markit (NASDAQ:INFO), total 2017 global light vehicle sales will reach 93.5 million units, a growth rate of 1.5 percent over 2016. However, […]
IHS Markit Reports Average Age of Light Cars and Trucks in U.S. Rises Again in 2016 to 11.6 Years
Also reports record number of vehicles in operation. The average age of light vehicles in operation (VIO) in the U.S. has once again climbed slightly this year, to 11.6 years, according to industry experts at IHS Markit (NASDAQ:INFO), a provider of business information and analysis for the global automotive industry. Registrations for light VIO, including […]