Southfield, Michigan – The median age of passenger cars in operation in the U.S. increased to 9.4 years in 2008, breaking a previous high of 9.2 years, according to auto data firm R.L. Polk & Co.
The median age for all trucks in 2008 increased to 7.6 years, from 7.3 years in 2007. The report represents data from July 1, 2007 to June 30, 2008, and covers more than 249 million vehicles.
The percentage of total passenger cars and trucks scrapped in 2008 increased to 5.6 per cent, compared with 5.2 per cent in 2007.
“The current economic environment, coupled with high gas prices last spring and summer, have resulted in consumers delaying purchases of vehicles because their discretionary income has fallen,” said Dave Goebel, solutions consultant for Polk. “Based on the uncertainty of what the future holds, consumers are trying to keep their current vehicles running longer, until their confidence improves.”