Pre-owned Volkswagen vehicles on sale at a dealership in Fair Lawn, New Jersey, on Sept. 29, 2015.
Ritika Shah | CNBC
Next time you’re driving down the road, look around. On average, 1 in 4 cars and trucks you pass are at least 16 years old, according to new analysis of what Americans are driving.
IHS Markit, which tracks vehicle registrations in every state, says the large number pre-2005 cars and trucks on the road is one reason the average age of vehicles in the U.S. has climbed to an all-time high of 11.9 years.
“A lot of it has to do with quality of the vehicles on the road,” said Todd Campau, after-market specialist with IHS Markit. “They are comfortable keeping that vehicle longer than they would in the past.”
2020 is the fourth straight year the average vehicle age in the U.S. increased, extending a trend over the last two decades during which Americans hang on to their cars and trucks longer. A decade ago, the average age of a vehicle in the U.S. was 10.6 years according to…