New research from IHS Markit shows that the average age of light
vehicles in operation (VIO) in the US has risen to 11.9 years this
year, about one month older than in 2019. Though slight, the
increase can generate new business opportunities for companies
operating in the aftermarket and vehicle servicing sector in the
United States.
Several factors have contributed to push US average vehicle age
higher, according to the analysis. While vehicle scrappage rates
have increased and would be expected to cause average age to drop,
the growth in new vehicle sales has plateaued. Having fewer new
vehicles added to the US vehicle population has offset the
potential drop in average age.
