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People Keep Their Cars Longer Because Their Quality is Better

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On: Thu, Aug 8, 2013 at 9:19AM | By: Elizabeth Puckett


People Keep Their Cars Longer Because Their Quality is Better

Drivers in this country are buying cars and trucks and keeping them for much longer than they used to. Even though the sales of news cars is on the rise, the average age of the car owned by an American is also on the continuous rise.

There are 247 million cars and personally owned trucks in the United States; the average age of these vehicles reached a record high in January—11.4 years old, according to recently analyzed research by experts.

In 2012, that average age was 11.2 years old, and in 2007 it was about two years less than it is now.

Drivers are holding on to their cars and trucks because the auto makers have managed to actually make a decent product. Combine the quality of these cars with the budget that doesn’t really have much room for an expensive monthly car payment, and far more people feel like what they have in the garage now is plenty adequate.

Another interesting piece of this is that average percentage of cars and passengers trucks that end up on the scrap yard has been cut in half since the recession. Why does that matter? It means that when people are ready to get rid of their car, they are able to sell them to other interested buyers instead of taking them in for scrap. Cars are now lasting much longer, even when the driver is ready to upgrade.

The average age of cars isn’t likely to drop either, even though the recession caused some quality issues from makers and people didn’t buy new for quite some time. Many experts believe that the average age of cars and trucks driven by Americans will go up to around or over 12 years old in the next five or so years.

This could possibly spark some new success in the auto repair industry. Auto shops can expect to get more customers who plan to hold on to their vehicle for longer. It could also cause vehicles to have a much higher resell value since a car older than five years is no longer considered to be ‘almost spent’.




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