For cars alone, the average age is 14 years old. Ten years ago, it wasn't even 12, S&P Global Mobility data shows.
Our eyes are often drawn to those snazzy new cars driving next to us on the highway, but take a wider look around and you'll likely find a sea of much older vehicles taking up the bulk of the road. And these days, that majority is getting even older.
For just cars, the average age is now 14 years, compared to around 11.5 years 10 years ago, according to the automotive data company. Yet even with new car prices down 3.5% from January 2023, according to Kelley Blue Book analysis, many might still gravitate toward buying used, as consumers are aiming to spend less overall. Plus, Consumer Price Index data shows car insurance is up more than 20% since last year, and it's cheaper to insure an older vehicle.
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