Posted on 01/17/2012 1:39:47 PM PST by Responsibility2nd
NEW YORK (CNNMoney) -- The average vehicle on America's roads is almost 11 years old, according to the auto market analysts at Polk.
The 10.8-year average is the highest figure recorded since Polk began tracking vehicle age in 1995. Back then, the average was just 8.4 years.
Vehicle age has increased rapidly over the last five years as new vehicle sales have slowed. Polk's analysis is based on vehicle registration data.
Older cars represent an opportunity for some businesses.
"Dealer service departments and independent repair facilities, as well as aftermarket parts suppliers, will see increased business opportunity with customers in need of vehicle service," said Mark Seng, global aftermarket practice leader at Polk.
With vehicles getting older, fewer cars are covered under their original factory warranty, said Seng. That presents a challenge for auto dealers to bring those customers back into the dealership service department.
The number of cars under warranty is now the lowest it's been in the last 12 to 15 years, he said, and drivers whose cars aren't under warranty tend not to go to the dealer.
(Excerpt) Read more at money.cnn.com ...
My favorite 1/4” ratchet is still in a (moderately kid wrecked) FSJ in the garage somewhere amongst the (compressed) front heat exchangers. I’ll get to it someday soon....
well brand new cars are purrty and all, but you pay all that money and taxes and registration and insurance...yikes...its not worth it....
Anyone who buys a new car has more money than brains.
Buying a car you'd buy used as a new vehicle and letting your wife drive it for the first 100,000 mi. can win points and free much of one's time. After a number of years, you wind up with the used car of your dreams (free!). What's not to like?
Guy Feiri (sp?) has a sweet red ragtop late 60's camaro he uses on his show "Diners Drive-ins and Dives". That is exactly the color and option I would want.
‘98 Nissan Maxima here with over 200K miles. Rebuilt the manual tranny myself about 5 years ago. Since then it’s cost me about $500 a year in parts. Sure beat a car payment for now. Currently looking to acquire a late ‘90s-early 2K K2500 as a spare vehicle.
My wife drives our new car. It is now 10.5 years old. Her previous new car is my now 16 year old car. In a couple years we will buy her a new car and I will drive her current car. I am pretty excited for the move in 2014 into a vehicle built in the current millennium!
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