![]() When the average new car price is trending toward $50,000, that old Altima seems quite appealing.Īs Axios notes today, even if we’re on the eve of what appears to be an eventually all-electric new car market-something I too believe, with emphasis on “eventually”-this data proves gasoline cars aren’t going anywhere for a while. Rising interest rates, longest-ever loan terms, an uncertain economy ahead, a market-wide shift to trucks and SUVs and still-pricey electric vehicles all mean more and more people are saying “Yeah, this is fine for now” when they think about their aging cars. ![]() But on the whole, if you buy a car today (or in 2010, apparently) and take care of it, you can keep it running for a very long time.Ĭouple those technology improvements with the fact that new cars are staggeringly expensive, a trend we’ve been covering extensively here at The Autopian. Sure, some brands and vehicle types hold their long-term quality better than others and there are still a few maintenance disasters out there. Is anyone surprised by this? Modern cars are safer, faster, more reliable, better built and more efficient than at any other point in history. But now people are keeping their cars on the road longer than ever especially passenger cars, which are spending a whopping 13.6 years in service, on average. You can see where things started to level off in the years after the Great Recession and the auto industry’s (in some cases, state-funded) recovery, wherein car buyers found relief from pent-up demand. Here’s a handy chart from those folks that shows just how much cars on the road have aged in the past two decades: Chart: S&P Global S&P Global Mobility released another study that shows how old today’s cars are, and according to them, it’s 12.5 years - up from 12.2 years in 2022. If you drive a Ford F-150, Toyota Camry, Chevy Silverado or Nissan Altima from 2010 or 2011, congratulations: you’re basically driving the average car on American roads today. We have that trend for today’s morning roundup, plus more news about VinFast and where Alfa Romeo is hinging its comeback plans. But the cars from that time still keep putting in the work today a new study shows Americans have hit a record average high with vehicle ownership. I’m not saying that song’s not a banger-it is, certifiably-but it’s been a while since it was a fresh jam. When the average car still on American roads today left the dealership, you couldn’t go very far without hearing “ Rolling in the Deep” playing on someone’s stereo.
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