Record High Vehicle Age in the US Reflects Soaring Car Prices

The average age of cars and light trucks in the US has reached 12.6 years, driven by high costs of new vehicles and economic uncertainty.

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.