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xrac

More cars scrapped than purchased in 15-month period

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xrac    863

I think this is indications that this is a good time four our business:

 

For the 15 months ended Sept. 30, Americans scrapped 1.2 million more vehicles than they bought, a historical first, according to R.L. Polk, which has tracked car ownership since 1948.

 

More than 14.8 million cars and light trucks were crushed or recycled in that period, while consumers registered 13.6 million new vehicles.

 

The average vehicle on U.S. roads was 10.2 years old during the 15 months of Polk's most recent analysis. That is the oldest fleet in at least 14 years.

 

Three factors other than high unemployment and economic uncertainty are leading people to keep driving their vehicles longer, Polk said. Those are longer warranties, longer-term financing - some new car loans now are for 72 months - and general improvements in quality.

 

- Detroit Free Press

 

 

Read more: More cars scrapped than purchased in 15-month period - Business - TheState.com

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