Despite improvements in car availability since the pandemic crisis, Americans are currently using their cars for a record length of time, Reuters reports.
By 2024, the average age of cars and pickup trucks in the U.S. will increase to 12.6 years, according to S&P Global Mobility. This is two months longer than in 2023.
The authors of the report believe that despite the increase in new car registrations, cars aged 6 to 14 years and older will make up 70 percent of motor vehicles on the road within the next five years.
The average age of electric cars, which has remained stable since 2019 at 3.5 years, is also expected to increase.
