Average US Vehicle Age Hits 12.6 Years As Inflation Takes Toll

Cars, trucks, and SUVs across the U.S. are getting older, with the average vehicle age now at a record 12.6 years. According to S&P Global Mobility, which monitors state vehicle registration data, high prices for new cars and massive economic pressures on buyers account for the trend, ABC News reports.

Despite a small recovery in new vehicle sales and a recent drop in prices — the average new car cost just over $45,000 last month, down from a peak in December 2022 — many people still find new cars too expensive. “It’s prohibitively high for a lot of households now,” said Todd Campau, aftermarket leader at S&P Global Mobility. “So I think consumers are being painted into the corner of having to keep the vehicle on the road longer.“