Question of the Day: What is the average age of a car on the road today?
Let's just say the average car has certainly lost that new car smell.
Answer: 12.6 years
Questions:
- What do you think goes into the decision to purchase a new car when you have a car that is working ok?
- As cars age, what would you expect to happen with their maintenance costs?
- What are the factors that you think determine the longevity of a car (i.e., how long a car can stay on the road)?
- What are the pros/cons of owning the same car for 12+ years?
Behind the numbers (ABC News):
"Cars, trucks and SUVs in the U.S. keep getting older, hitting a record average age of 12.6 years in 2024 as people hang on to their vehicles largely because new ones cost so much.
S&P Global Mobility, which tracks state vehicle registration data nationwide, said Wednesday that the average vehicle age grew about two months from last year's record.
But the growth in average age is starting to slow as new vehicle sales start to recover from pandemic-related shortages of parts, including computer chips. The average increased by three months in 2023."
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Looking for more vehicle related resources? Check out NGPF's Buying a Car mini-unit!
About the Author
Ryan Wood
Ryan grew up with and maintains a love for learning. He graduated from the University of Wisconsin-Green Bay with a degree in Business Administration and worked in sports marketing for a number of years. After living in Texas, Colorado, Tennessee, and Minnesota, the call of education eventually brought Ryan back to his home state of Wisconsin where he was a Business and Marketing teacher for three years. In his free time he likes to spend time with his wife and daughter, play basketball, read, and go fishing. Now with NGPF, Ryan is excited to help teachers lead the most important course their students will ever take.
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