The average age of cars and light trucks
currently in operation in the United States
has increased to 10.8 years, according to
Polk, an automotive market
intelligence firm. Passenger cars showed a
modest increase in age since 2010, from 11
years to 11.1 years at the end of June
2011.
Light trucks (including pickups and SUVs)
show a more sizeable gain in the same time
frame, from 10.1 years to 10.4 years.
Overall, average vehicle age has been
increasing quickly over the past five
years. Polk reports average age based on
an analysis of national vehicle
registration data.
The slowdown of the aging of passenger
cars directly correlates to the low sales
volumes and the mix of car and truck sales
in the U.S. market in 2008 and 2009, a
time in which more trucks than cars were
registered. While more trucks were sold
over the same timeframe, they showed a
faster aging rate. Polk expects this trend
may change in the coming years as CUV and
small SUV populations in the U.S. market
have risen in 2010 and 2011 due to their
continued success in the market.
Additionally, the rebound in new
vehicle sales in 2011 and for the next
couple of years will most likely slow down
the aging rate seen in the market over the
past three years, according to
Polk.
The aging U.S. vehicle fleet is bad news for collision repairers, because vehicle age is a key determining factor in whether a damaged vehicle gets repaired or scrapped. However for service repairers, it offers increased business opportunities.
“The increasing age of the vehicle fleet,
together with the increasing length of
ownership, offers significant business
growth opportunity for the automotive
aftermarket,” said Mark Seng, global
aftermarket practice leader at Polk.
“Dealer service departments and
independent repair facilities, as well as
aftermarket parts suppliers, will see
increased business opportunity with
customers in need of vehicle
service.”
Year-over-year Light Vehicle
Population Declines Come to an
End
2011 marked the end of the U.S. vehicle
population decline that has occurred
annually since 2008. According to Polk,
the total vehicles in operation (VIO) in
July 2011 was just over 240.5 million, an
increase of 500,000 units over July in the
previous year, and nearly equal to 2009
VIO. The highest VIO on record was
achieved in July 2008, when more than 242
million passenger cars and light trucks
were on America’s roads.
