With sales on an upswing all across the auto industry, record-setting amounts of vehicles are hitting the road in the United States.
Industry analysts IHS Automotive say that by the end of 2013, 252.7 million light vehicles were in operation on US roads, the highest number ever recorded by the outfit. Thanks to the sharp increase in new vehicle sales, the average age of the light vehicle fleet remains stagnant at 11.4 years old.
This is the first time in almost a decade that the average age of the fleet hasn’t increased. From 2004 to 2009, the average age of light vehicles rose by about five percent while the period spanning 2009 to 2014 saw the age jump by 11 percent thanks mainly to the recession. When money is tight, new vehicle purchases tend to take a nose dive.
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But now, purchases are on the rise and IHS predicts that the fleet will only get about 3 percent older by 2019. What’s more, the amount of new-vehicle registrations actually surpassed the number of vehicles that were scrapped in 2013, the first time in a decade that this has happened.
[Source: Auto News]