Peak Autos? - Increasing Light Vehicle Useful Life Is Disastrous For Auto OEMs
IHS Markit today released their annual study on the average age of light vehicles registered in the U.S.. As expected, the average fleet age continues to tick up and currently stands at 11.6 years. While this may be great news for consumers, higher quality and longer useful lives can have a detrimental impact on annual auto sales.
“Quality of new vehicles continues to be a key driver of the rising average vehicle age over time,” Mark Seng, global automotive aftermarket practice director at IHS Markit, said in a statement.