Polk: Average Age of Light Vehicles is Rising

PR Newswire

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
2002 9.8 9.4 9.6
2003 9.9 9.5 9.7
2004 10.0 9.5 9.8
2005 10.1 9.5 9.8
2006 10.2 9.5 9.9
2007 10.3 9.6 10.0
2008 10.4 9.8 10.1
2009 10.5 10.1 10.3
2010 10.8 10.5 10.6
2011 11.1 10.8 10.9
2012 11.3 11.1 11.2
2013 11.4 11.3 11.4
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.

 

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