Average age of US cars rises

The average age of passenger cars and light trucks in the United States has risen for the sixth consecutive year to reach a new record of 12.5 years, according to a study from S&P Global Mobility.

The findings show the average age of such vehicles has increased by three months when compared with 2022, and that there are more than 284 million vehicles being driven on US roads.

Todd Campau, associate director of aftermarket solutions for S&P Global Mobility, says the latest figures have not come as a surprise.

“We expected the confluence of factors impacting the fleet coming out of 2021 would provide further upward pressure on average vehicle age.”

The reasons for the aging fleet include the initial impact of the Covid-19 pandemic on new vehicle sales and a subsequent shortage of microchips impacting production for many marques.

Campau notes the pressure on the new-vehicle sector increased in the second half of 2022 as interest rates and inflation in the US began to take their toll.

The combined effect of those factors caused retail and fleet sales of new light vehicles in the US to drop eight per cent from 2021’s 14.6 million units to 13.9m in 2022. 

S&P Global Mobility notes that was the lowest level recorded in over a decade and means there are now almost 122m vehicles in operation over 12 years old.

Vehicle sales are tipped to recover to 14.5m this year and Campau says while pressure will remain on the average age of vehicles in 2023, “we expect the curve to begin to flatten this year as we look toward returning to historical norms for new vehicle sales in 2024”.

The average age of light vehicles on New Zealand’s roads is more than 14 years. Figures from Environmental Health Intelligence New Zealand also show that 38.4 per cent of light vehicles in the fleet in 2020 were at least 15 years old.