The total of registered light vehicles — that’s cars, SUVs and light-duty pickup trucks — at the start of this year is an increase of 5.9 million, or 2.2 percent, from a year earlier. A good economy no doubt helped, but we also just have more people in the U.S.
And as vehicles improve, the average age this year has edged up from 11.7 years in 2018. IHS Markit began tracking registered vehicle age in 2002, and back then the average was 9.6 years.
“Better technology and overall vehicle quality improvements continue to be key drivers of the rising average vehicle age over time,” said Mark Seng, IHS Markit’s global automotive aftermarket director, in a statement.