The average age of US light vehicles rose to 12,8 years, an increase of two months for the second consecutive year in 2024, according to new analysis from S&P Global Mobility.
The average age for passenger cars climbed to 14,5 years, while light trucks average is showing very gradual growth to 11,9 years.
Meanwhile, for the first time in several years there is upward pressure on the average age metric for Battery Electric Vehicles as their sales growth slows. Average age for BEVs still remains low, at 3,7 years, with growth in line with the overall market in 2024.
As consumers have warmed to hybrid options, Plug-In Hybrids’ aging has stayed flat at 4,9 years, and traditional Hybrids have reduced in average age from 6,9 to 6,4 in the past year.