Posted on 05/22/2024 11:59:46 AM PDT by BradtotheBone
Cars, trucks and SUVs in the U.S. keep getting older, hitting a record average age of 12.6 years in 2024 as people hang on to their vehicles largely because new ones cost so much.
S&P Global Mobility, which tracks state vehicle registration data nationwide, said Wednesday that the average vehicle age grew about two months from last year’s record.
But the growth in average age is starting to slow as new vehicle sales start to recover from pandemic-related shortages of parts, including computer chips. The average increased by three months in 2023.
Still, with an average U.S. new-vehicle selling price of just over $45,000 last month, many can’t afford to buy new — even though prices are down more than $2,000 from the peak in December of 2022, according to J.D. Power.
“It’s prohibitively high for a lot of households now,” said Todd Campau, aftermarket leader for S&P Global Mobility. “So I think consumers are being painted into the corner of having to keep the vehicle on the road longer.”
(Excerpt) Read more at cnbc.com ...
Sounds about right - really is incredible.
2003 GMC Envoy, 144k 3 owners including me.
Fist owner, ol Dave, a friend of mine, bought it new in 2003. He was extremely meticulous in his maintenance schedule, even a little OCDish. He drove it an average of 6,500k a year and owned it until 2018. I got it from another friend of ours in Sept 2020 who hardly used it. Once I knew ol Dave had owned it all that time I grabbed it!
Keeping cars longer make good used cars harder to find.
It’s been that way for several years. You say just buy a repo? Repo’s are even worse.
Biden’s regime has jacked up the cost of living TREMENDOUSLY. Most normal working Americans cannot afford new cars now, it is out of the question.
I stupidly got rid of my 1967 Volvo P1800S with the original air conditioning. Such a very poor decision on my part.
We have bought our last new vehicle, it’s a 2018 Lexus RX 350. We do most of our daily driving in the worn out 2004 F-150. The best features of both is that they are paid for.
Another reason might be that consumers are wary of buying cars that spy on them.
Cuba has a lot of old cars that are being maintained at least to some extent. Many old cars here in the USA are being restored at high cost & being resold for high prices, but the average buyer is just about out of luck trying to get one because of the high cost of repair. The cost of parts & repair makes it almost impossible for some to own even a half decent car nowadays. Thanks for nothing, Joe Biden.
2016 Lincoln MKC (wife)
2015 Lincoln MKC (mine)
2005 Grand Prix (spare car - Hail ‘totaled’ it in ‘21, insurance paid 4400, bought back for 400, replaced windshield)
1986 GMC 1500 (new motor in 2018)
1969 Mercury Cougar (2nd owner since 2000)
1966 Ford Mustang (Family car until ‘73, then just Dad’s, now mine)
1998 HD XFSTC
2003 HD Sportster
Old stuff rules!
6 years old
13 years old
18 years old
19 years old
Average of 14
Could be a Volvo P1800; I hear there is now one in a museum that has like a million or more miles on it.
We drive a full sized sedan, 14 years old. It’s in great shape, and we have no plans to get rid of it. It gets 19-21 mpg, which works for us. We usually only put around 60-80 miles per week on it, except for appointments to 50 miles and back once or twice a month. We bought it used about 11 years ago, IIRC. I couldn’t care less if it’s an older car. It was the makers top model. It cost us $10,000, and has paid for itself many times over, and has only had one repair, for $100, when the driver’s side electric window failed.
2012 Toyota Tacoma V6 4WD long bed. Just turned 110K miles. best vehicle I have ever owned. The newer ones are NOT as good.
My wife drives a 2018 Honda CRV.
The only thing I have considered buying lately was a 2010-2015 Lexus IS350 hard top convertible with a naturally aspirated V6.
The only other vehicles I would consider buying is either a late 40s early 50s Willy’s Jeep. A vehicle so simple I could work on it. No heat, no AC, no radio, no safety features, simple brakes, simple electrical system, manual transission
OR
A 1970s Toyota Landcruiser FJ40.
Had our Hyundai Santa Fe for over 13 years and 317k miles. Timing chain damper went south and decided it wasn’t worth the cost to repair. Gave that car to charity (they usually just sell the parts). Now have a Telluride and hope to keep it even longer.
I know of a nice 74 Grand Ville.
Got to drive it once recently.
Cruised beautifully.
It took an extra half a second for all four barrels to kick in.
Could also be that cars are built better and last longer than they did twenty years ago. My Jeep and Acura are both 10 years old. with less than 80,000 miles each. Other than regular maintenance, they have been problem free and still run great. I can afford a new vehicle; I just can’t justify buying one, when the two that I have are in excellent condition.
Ford SUV.............15 years
Honda Odyssey...18 years
BMW R75/7.......49 years
BSA C15.............70 years
Ford 8N tractor...75 years
I’m doing my bit!
It’s a combination of the EPA, Unions and idiots. The idiots want all this technology in their cars.
I’d like to start a new company that eliminates all the technology BS, eliminates all the useless EPA shxt, comes with a cell phone jammer, gives you an AM/FM radio and a new Atlas for navigation.
They definitely are, beginning in the early '90s GM and Ford went whole hog into quality and longevity. I was there. Single biggest thing I remember was firing their logistics VP and then changing the grade of cast iron used for engine blocks. Lopez bought the cheapest iron he could find, and it almost destroyed GM's reputation. V-8 blocks lasted 90,000 miles. Now they go beyond 250,000 with ordinary care.
It seems about the only thing missing is Che and his firing squads. Those probably are on the way if the Dems manage to "win" the elections in 2024.
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