A recent Polk study finds that the average age of light vehicles on the road is continuing to increase, even though a record number of new vehicles have been sold.
Find out more about what the Polk data reveals for cars and light trucks.
The U.S. vehicle fleet population is changing, a shift that gives way to significant opportunities for certain automotive aftermarket segments, according to Polk, the global automotive market intelligence firm recently acquired by IHS.
As part of its analysis, Polk reports the average age of all light vehicles on the road now stands at a record high of 11.4 years, based on review of over 247-million U.S. car and light truck registrations earlier this year. For passenger cars, average age also met a record high at 11.4 years, while the average age of light trucks also increased, to a record 11.3 years. Polk expects this trend to continue, while a shift in the fleet of vehicles in operation (VIO) is underway.
|Average Age of Passenger Cars and Light Trucks|
|Year||Passenger Cars||Light Trucks||Total Light Vehicles|
|Source: Polk. Figures are based on a snapshot of vehicle registrations taken Jan. 1 each year.|
Polk recently developed a new forecast for vehicles in operation (VIO) through 2018, the first of its kind in the industry. With the rebound in new vehicle registrations, Polk is forecasting the total VIO to grow five percent to more than 260 million vehicles by 2018.