|
That is not good for emissions or safety, but it could give a
lift to companies that manufacture and sell repair parts.
IHS Markit, which gathers and analyzes data on a wide range of
industries, said the average age of cars, sport utility vehicles
and pickup trucks rose to 11.9 years as of January 2020 from
11.8 years for the prior year.
Graphic: Average age of light vehicles in the U.S. - https://graphics.reuters.com/USA-AUTO/AGE/qmyvmkkbbvr/
Data for the period since the coronavirus pandemic hit the
global economy are not final, but the sharp slowdown in vehicle
sales is likely to push the average age of vehicles on U.S.
roads over 12 years, said Todd Campau, associate director of
aftermarket solutions for IHS Markit.
"We definitely expect to eclipse the 12-year barrier," he said.
People working from home could put fewer miles on vehicles,
allowing them to last longer, he said.
The average age of cars and light trucks has been increasing
steadily for nearly 20 years, reflecting rising prices for new
vehicles and improved durability that allows older vehicles to
travel more miles with more owners before they are scrapped,
Campau said.
The aging U.S. vehicle fleet has been an issue as U.S. lawmakers
have debated economic stimulus plans. Proposals to provide
government-funded incentives to retire older, more polluting
vehicles, or encourage drivers to get new vehicles with more
advanced safety technology have so far not gained much traction.
Manufacturers of repair parts and vehicle repair shops should
benefit from America's aging and expanding vehicle fleet, IHS
Markit forecast. The United States has more than 280 million
vehicles on the road.
(Reporting By Joe White; Editing by Nick Zieminski)
[© 2020 Thomson Reuters. All rights
reserved.] Copyright 2020 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
Thompson Reuters is solely responsible for this content.
|
|
