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Vehicles reach oldest point everPosted On Thu, January 19, 2012
Cars and trucks on the road have an average age of nearly 11 years, according to a report by automotive market analyst Polk.
Specifically, passenger cars increased to 11.1 years in 2011, a slight rise from the 11 years in 2010, according to the source. Light trucks increased to an average of 10.4 years in 2011, higher than the previous year's figure of 10.1 years. This makes for an overall average of 11.1 years for 2011.
"The increasing age of the vehicle fleet, together with the increasing length of ownership, offers significant business growth opportunity for the automotive aftermarket," said Mark Seng, global aftermarket practice leader at Polk. "Dealer service departments and independent repair facilities, as well as aftermarket parts suppliers, will see increased business opportunity with customers in need of vehicle service."
If a person owns an older car, they may be able to save money on insurance. A great way to find out for sure is to compare auto insurance rates, as there may be a less expensive option on the market.
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