Average Age of Light Vehicles in the US Hits Record High 12.5 yrs

Report from S&P Global Mobility:

https://www.prnewswire.com/news-rel...ccording-to-sp-global-mobility-301824463.html

"This is the sixth straight year of increase in the average vehicle age of the U.S. fleet. It also reflects the highest yearly increase since the 2008-2009 recession, which caused acceleration in average age beyond its traditional rate due to the sharp decline in new-vehicle sales demand."

Article also mentions how this supports favorable business pipeline for the aftermarket and how new vehicle sales continue to skew toward pickup trucks.

Just thought it was interesting.

 

Interesting pickle that manufacturers simultaneously advertise how long their vehicles last yet their marketing dept keeps us in new models every 3 years

super interesting data. I wonder how we rank with most modern countries

 

People may be holding off thinking that better deals and discounts are just around the corner, too. It seems that the general sentiment since mid-2021 is that prices and inventory will return to something resembling the pre-pandemic normal in the not-too-distant future.

 

Well, they are to a degree. A year ago there was no way in hell you'd find a 2022 Tundra on the lot.

Now? There are a few on the lot, and they're selling @ or below MSRP. Not at all like what we say prior to 2020, but also not at all like what we say from 2020 May till the beginning of this year, or so.

 

Now is this because reliability is getting better or because personal finances are getting worse?

 

Not surprised, inflation in everything, high interest rates, finding a good paying job is very difficult these days. I could never afford a new Tundra in todays market. When I bought mine new I got it 3K under sticker price and 2.9% financing for 72 months. The same truck today would cost at least 15k more. Ridiculous.

 

I just cancelled my new f350. Just lost interest. Will keep my 2014 tundra at least another year or two. And my 2003 f250.

 

Also another read:
https://www.spglobal.com/en/research-insights/articles/daily-update-may-16-2023

I mean, not to pour cold water, but yea, if we can and am holding on to our vehicles longer by taking care of it, unless you have some serious spare cash and need, stay out of debt as much as possible.

 

That's probably partly why Auto Zone stock is $2600.