Overview

• S&P Global Mobility reports the average age of US vehicles has hit a record 12.6 years in 2024.
• High prices and interest rates are compelling consumers to keep their vehicles longer.
• The average age of cars is 14 years, while light trucks average 11.9 years.
• Electric vehicles remain relatively new, with an average age of 3.5 years.
• Older vehicles boost the aftermarket service industry, as more cars fall into the 6 to 14-year age range.