Changing Vehicle Average Age
"As light vehicle average age skyrocketed in the U.S. between 2006 and 2016, there were significant differences in the rate of age growth between cars versus light trucks and foreign compared to domestic nameplate vehicles."
"As a result, the age profiles of various groups of vehicles at the beginning of 2016 were different from ten years earlier, with important consequences for aftermarket product volume and growth."
Smaller Age Gap
The age gap between cars and light trucks narrowed between 2006 and 2016.
There was a 0.5 year age difference between cars and light trucks at the beginning of 2006. This average age gap was reduced to 0.1 years at the beginning of 2016, one-fifth of its size ten years earlier.
Age Gap between Cars and Light Trucks
Car average age increased from 10.3 years at the beginning of 2006 to 11.3 years by January 2012.
The age of passenger cars continued to climb, reaching 12.0 years at the beginning of 2016, a record-high level.
Domestic Nameplates Soar in Average Age
Domestic nameplate cars and light trucks have significantly higher average ages than their foreign nameplate counterparts.
Domestic nameplate car average age soared 2.2 years between 2006 and 2016, while foreign nameplate cars recorded a smaller average gain of 1.7 years during this same period.
Age change differences were also pronounced among light trucks. Domestic nameplate light truck average age increased 2.1 years between 2006 and 2016, significantly higher than the 1.9 year increase in foreign nameplate light truck average age over these ten years.
The lower average age of light trucks compared to passenger cars is important to aftermarket growth since light trucks average nearly 50% more product volume per vehicle than cars on an annual basis.
Six Major Takeaways