According to a study by S & P Global Mobility, the average service life of cars driving on the United States has climbed to a record high again, reaching 12.6 years, an increase of two months from 2023. There are many reasons behind this growth, including the continuous impact of the epidemic, rising prices of new cars, and consumers' wait -and -see attitude towards electric vehicles.
This is the seventh consecutive year of the average service life of American cars. In addition to the average age growth, the proportion of cars in 1-5 years is only 35%. Compared with last year, this number has been reduced by about 2 million vehicles. At present, the total number of cars age of 1-5 years on the American road is about 88 million.
At the same time, the total number of cars on the United States roads increased, reaching 286 million units, an increase of about 2 million vehicles from last year, which shows that more people choose to delay and eliminate old cars. S & P Global Mobility predicts that cars (6-14 years old), which are in the "after-sales market," will continue to drive the average service life of the car.
Since 2020, a total of 27 million cars and 26 million light trucks in the United States have been eliminated. In contrast, the number of new vehicles in the United States in the same period is 13 million cars and 45 million light trucks, which highlights consumers' preference for practical vehicles.
On the other hand, the amount of electric vehicles has continued to grow. As of January this year, there were 3.2 million electric vehicles on the US road. In 2023, the number of electric vehicles in the United States exceeded 1 million for the first time, but the popularity was still slower than the expectations of many manufacturers.