{"id":2251216,"date":"2024-05-23T12:26:03","date_gmt":"2024-05-23T16:26:03","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/average-age-of-us-vehicles-well-over-12-years-amid-high-car-prices\/"},"modified":"2024-05-23T12:28:50","modified_gmt":"2024-05-23T16:28:50","slug":"average-age-of-us-vehicles-well-over-12-years-amid-high-car-prices","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/average-age-of-us-vehicles-well-over-12-years-amid-high-car-prices\/","title":{"rendered":"The average age of vehicles in the US exceeds 12 years, despite soaring car prices"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">30<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Faverage-age-of-us-vehicles-well-over-12-years-amid-high-car-prices%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2251216&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>A recent study by S&#038;P Global\u2063 Mobility reveals a significant trend in the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wall-st-ends-higher-with-earnings-poised-to-ramp-up\/\" title=\"Wall Street finishes higher as earnings set to rise.\">vehicle\u200b industry<\/a>. Drivers are holding onto their vehicles\u200c due to high prices of newer models, \u2064resulting in\u200c an \u2063<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/americans-delay-buying-new-cars-as-long-as-possible-to-avoid-high-prices\/\" title=\"Americans wait to buy new cars to avoid high prices.\">average vehicle age<\/a> of \u206412.6 \u200dyears. This\u2063 increase highlights consumer challenges with\u200d inflation and \u200breluctance towards electric vehicles, despite \u200dgovernment efforts to promote them. Your <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/trans-identifying-euphoria-star-no-longer-interested-in-playing-trans-parts-i-find-it-ultimately-demeaning\/\" title=\"Euphoria Star No Longer Wants to Play Trans Roles, Finding It Demeaning\">summary \u2063effectively captures<\/a> the key points from\u200b the \u200bprovided text about the impact of high prices on\u200d vehicle retention and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/fed-governor-implies-employers-should-slow-down-wage-increases\/\" title=\"Fed Governor Implies Employers Should Slow Down Wage Increases\">consumer attitudes<\/a>\u200d towards electric vehicles. Well \u200ddone!  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<div data-td-block-uid=\"tdi_78\">\n<p>When it comes to vehicles, drivers are holding on to their keys. A new study finds the high prices of newer models are keeping people out of the dealerships.<\/p>\n<p>The data from S&#038;P Global Mobility, a company that monitors vehicle registration data, are a combined average of the age of cars and light trucks in the U.S., <a href=\"https:\/\/www.spglobal.com\/mobility\/en\/research-analysis\/average-age-vehicles-united-states-2024.html\" target=\"_blank\" rel=\"noopener\" title>equating to about 12.6 years<\/a>. That\u2019s an increase of two months from the average of last year, as consumers continue to grapple with <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/inflation\/\" target=\"_blank\" rel=\"noopener\" title>inflation<\/a> and <a href=\"https:\/\/www.washingtonexaminer.com\/policy\/energy-and-environment\/2957539\/ev-popularity-fizzling-nearly-half-drivers-dont-have-one-say-dont-want-switch\/\" title=\"not being sold\">not being sold<\/a> on electric vehicles despite a huge push by the Biden administration.<\/p>\n<p>\u201cWith average age growth, more vehicles are entering the prime range for aftermarket service, typically from 6 to 14 years of age,\u201d said Todd Campau, a spokesman for the survey. \u201cWith more than 110 million vehicles in that sweet spot \u2014 reflecting nearly 38 percent of the fleet on the road \u2014 we expect continued growth in the volume of vehicles in that age range to rise to an estimated 40 percent through 2028.\u201d<\/p>\n<figure><figcaption>Vehicles wait in rush-hour traffic on Interstate 70 Friday, July 28, 2023, in Kansas City, Missouri. (AP Photo\/Charlie Riedel)<\/figcaption><\/figure>\n<p>When delving into specifics, the average age of cars in the U.S. is 14 years in 2024. Light trucks, meanwhile, are at an average age of 11.9 years.<\/p>\n<p>The average age of <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/electric-vehicles\/\" target=\"_blank\" rel=\"noopener\" title>electric vehicles<\/a> has remained steady at 3.5 years since 2019, indicating that a large majority of consumers are not ready to take up these vehicles.<\/p>\n<p><strong><a href=\"https:\/\/www.washingtonexaminer.com\/\" target=\"_blank\" rel=\"noopener\" title>CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER<\/a><\/strong><\/p>\n<p>In December, <a href=\"https:\/\/www.washingtonexaminer.com\/news\/2813763\/why-buying-new-used-car-expensive-2024\/\" target=\"_blank\" rel=\"noopener\" title>the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/mortgage-rates-surpass-5-again\/\" title=\"Mortgage Rates Surpass 5% Again\">average purchase price<\/a> of new vehicles was $48,759<\/a>. For used vehicles, the average was $25,446, up by about $200 from the previous year.<\/p>\n<p>The automobile industry is one of several areas in the economy that is being affected by inflation, which is expected to play a major role in motivating voters this November. Former President Donald Trump, the presumptive nominee for the Republican Party, is <a href=\"https:\/\/www.washingtonexaminer.com\/news\/campaigns\/presidential\/3007044\/young-voters-trump-biden-two-defining-issues-2024\/\" target=\"_blank\" rel=\"noopener\" title>trusted more than President Joe Biden among younger voters<\/a> to reduce prices, according to polling data.<\/p>\n<\/p><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Drivers are holding onto their vehicles as high prices deter new purchases. According to a study by S&amp;P Global Mobility, car registration data reveals an increasing average age of cars and light trucks. This trend indicates a reluctance to upgrade due to soaring prices of newer models, impacting dealership traffic<\/p>\n","protected":false},"author":2632,"featured_media":2251217,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/05\/AP23210088127186-1024x683.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[],"class_list":["post-2251216","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/05\/AP23210088127186-1024x683.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2251216","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2632"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2251216"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2251216\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2251217"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2251216"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2251216"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2251216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}