Passenger cars and light trucks in the United States had an average age of 12.5 years in 2023. This figure represents a slight increase from 12.2 years in 2022.
New vehicle sales decline amid pandemic
Long-term auto loans and good quality might be reasons why American motorists keep their automobiles longer. That said, vehicle sales in the United States declined dramatically in the second quarter of 2020. As a result, U.S. vehicle age is expected to rise further as U.S. motorists put off vehicle purchases among the COVID-19 crisis in the country and took an interest in buying used cars. Throughout 2022 and 2023, U.S. vehicle sales remained relatively stable, despite geopolitical disruptions. Amid supply chain shortages, North American automobile sales are projected to increase to around 19 million units by 2024.
The future market
At 12.5 years old, the average vehicle age in the United States is at a record high but the newest cars on the market are entering the next era of automotive technology. Shared mobility, automation, and electrification are several key aspects of the modernization of the motor industry. Electric vehicles are anticipated to witness growing demand in the U.S. Already, electric cars are the favored choice in other important auto markets, including China.
U.S. vehicle age from 2018 to 2023
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Vehicle age in years
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The figures for 2017 through 2019 were taken from a dataset published by bts.gov in February 2021.
2020 data was published by IHS Market in July 2020. 2021 data was published by IHS Market in June 2021. 2022 data was published by IHS Market in May 2022.
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DC Advisory. (November 3, 2023). U.S. vehicle age from 2018 to 2023 (in years) [Graph]. In Statista. Retrieved September 01, 2024, from https://www.statista.com/statistics/738667/us-vehicles-projected-age/
DC Advisory. "U.S. vehicle age from 2018 to 2023 (in years) ." Chart. November 3, 2023. Statista. Accessed September 01, 2024. https://www.statista.com/statistics/738667/us-vehicles-projected-age/
DC Advisory. (2023). U.S. vehicle age from 2018 to 2023 (in years) . Statista. Statista Inc.. Accessed: September 01, 2024. https://www.statista.com/statistics/738667/us-vehicles-projected-age/
DC Advisory. "U.S. Vehicle Age from 2018 to 2023 (in Years) ." Statista, Statista Inc., 3 Nov 2023, https://www.statista.com/statistics/738667/us-vehicles-projected-age/
DC Advisory, U.S. vehicle age from 2018 to 2023 (in years) Statista, https://www.statista.com/statistics/738667/us-vehicles-projected-age/ (last visited September 01, 2024)
U.S. vehicle age from 2018 to 2023 (in years) [Graph], DC Advisory, November 3, 2023. [Online]. Available: https://www.statista.com/statistics/738667/us-vehicles-projected-age/