Cars, trucks and SUVs in the U.S. keep getting older. A study published Wednesday says U.S. vehicles hit a record average age of 12.6 years in 2024 as people hang on to their rides largely because new ones cost so much.
Also the fact that new cars are insanely expensive these days. Study after study comes out saying consumers aren’t spending in weird ways, but it’s because the economy is essentially in a recession but no one wants to admit it.
Covid and the remote work change likely contributed. Not having to commute every day has saved a lot of miles on people’s cars.
Also the fact that new cars are insanely expensive these days. Study after study comes out saying consumers aren’t spending in weird ways, but it’s because the economy is essentially in a recession but no one wants to admit it.