Recently, consulting firm IHS Automotive found that the average vehicle of consumers in the U.S. is 11 1/2 years old, a fact you may find surprising. In fact, the article at the Daily News stated that in an age of Apple’s CarPlay, many vehicles on our roadways today still have tape decks. Interesting!
At CarMark Hawaii, we found this news very interesting indeed. Our business involves buying used cars for cash, so many of these facts are intriguing to us. IHS Automotive began tracking the average age of vehicles on U.S. roadways in 2002, and has found that since that time, the age of vehicles consumers drive has been steadily climbing. While drivers of older vehicles may not enjoy infotainment systems or the most advanced safety features, they also have fewer concerns about hackers finding their way to their vehicles’ computer networks via a CD player or cassette.
Part of the reason consumers are driving older vehicles today is the lingering impact of the recession in 2008, when there was a sharp decline in new car sales. In addition, IHS believes the fact consumers are driving older vehicles is also an indication of increased reliability of today’s vehicles.
IHS Automotive’s global aftermarket practice leader, Mark Seng, says that the auto industry should take heart, with sales of new vehicles showing a steady increase over the last four years. In 2011, 12.7 million new cars were sold; in 2014, that number had risen to 16.5 million. This trend is expected to continue, with new car sales expected to reach at least 17 million in 2015.
The fact remains the same; some people prefer to keep a car for a decade or longer as long as it is reliable and in good shape, while others prefer to trade every few years. If you’re looking to sell your cars for cash in Hawaii, come see us at CarMark Hawaii today. Our business IS used cars, and helping you get the cash you need now without all of the hassles you’d expect from many new or used car dealers.