Average age of US vehicles hits record 10.8 years!

[wa3zrm]

Americans are holding onto cars and trucks longer, pushing the average age of a vehicle to a record 10.8 years.
The Polk research firm said Tuesday that the average age of a car last July was 11.1 years, while the truck average was 10.4.
Unemployment and the sour economy have caused people to put off buying cars and trucks.
Polk says the average vehicle age has been rising since 2008.
But the firm says a sales rebound last year is likely to slow the aging rate.
Car companies sold 12.8 million vehicles in the U.S. last year, up from 11.6 million in 2010.
In 2010 the average vehicle on U.S. roads was 10.6 years old, up from 10 years in 2008.
Polk gets its numbers from national auto registration data.

Source:WFSB ^

[EricHill78]

My car is a 2002 so thats about right.

[lxskllr]

Good. That means fewer people are being wasteful. My 97 Jeep still gets me around, and it'll continue to do so until it doesn't. Its last journey will be by tow truck to the junkyard.

[Roo]

Yes this is how it should be. The best philosophy for car ownership imo is to buy a reliable vehicle and run it into the ground. In my case, it only took 10 years with my last Civic, and last year I bought a new one. I expect to replace it in 2020 or so.

[EricHill78]

Till the wheels fall off!!

[Snus Boost]

This has it's benefits and in any other circumstance this would be something I'd like to see. Unfortunately as someone who made their living for 10 years and is looking to get back into selling new cars this is a terrible sign. I also wouldn't blame this solely on the economy. Due to solid competition manufacturers have been forced to build cars that are more and more reliable with higher resale values to have any hope of selling vehicles. That plus the fact that for years there have been FAR more cars built than there was ever a demand for and the shift toward "volume" instead of gross profit the manufacturers have killed the demand for their product without any help from anywhere else. The internet and posted invoices as well as the ability to "shop" 5 different dealerships without ever leaving your house have made it even worse.
The fact that service not sales is where the money is in a dealership and always has been is what kept dealerships thriving but a large portion of their work comes from warranty coverage. The older the cars get the less of them that are under warranty so the harder they scramble to give cars away just so they can work on them later. It all goes back to the old saying "if someone wants to give you something for free, don't take too much". If you sit back and look at it objectively it's clear that the current system was never going to be sustainable and we could be headed for another collapse if there aren't major steps taken to change the game up soon.

[ProudMarineDad]

I have a 1999 Tacoma PreRunner with only 85000 miles on it. I bought it new in the fall of 1998. If it lasts as long as most Toyota pickups, I figure it will last longer than I do. I usually only drive it to work and my daily commute now is only 10 miles a day round trip.

[Snuts]

My car is from 1989. One of the most reliable cars in the world:

[truthwolf1]

I hate payments and paying full coverage insurance. So, I am on the used vehicle plan with liability.

Instead of driving around in the latest and greatest I will be planning a number of vacations through the year with my family. We have two 2005 full size sedans and a early 90's rust bucket Nissan 4x4

A friend who works at a bank for repo said business is out of control.