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Joe Marconi

Polk Report, Average Age of Autos Increase

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The average age of passenger cars in the U.S. is increasing, according to the marketing firm Polk. Both passenger cars and lights trucks have been increasing steadily since 2002. The average age of passengers now stands at 11.4 years and 11.3 years for light trucks. This trend is expected to continue, which should open up opportunity for aftermarket repair shops, especially as the economy improves.

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    • By AutoShopOwner
      The average age of light vehicles in operation in the U.S. has risen again as consumers continue to hold onto cars and light trucks longer.
      Driven by technology and quality gains, the average age of light vehicles on U.S. roads is 11.8 years, based on a snapshot of vehicles in operation Jan. 1, an analysis by IHS Markit found. That's up from a light-vehicle population that was, on average,11.7 years old in 2018.
      The number of registered light vehicles in operation in the U.S. hit a record of more than 278 million this year, an increase of more than 5.9 million, or 2.2 percent.
      IHS Markit began tracking the age of vehicles in 2002, when the average age was 9.6 years.
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      Repair opportunities
      IHS Markit found that the number of older cars and light trucks is growing fast, with vehicles 16 years and older expected to grow 22 percent to 74 million from 2018 to 2023.
      In contrast, there were less than 35 million vehicles 16 years or older on the road in 2002, according to the analysis.
      Seng said the growing number of older vehicles on the road provides more repair opportunities for dealers and aftermarket parts providers that focus on automotive service repair beyond warranty coverage.
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      Source: https://www.autonews.com/automakers-suppliers/average-age-vehicles-us-roads-hits-118-years
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      Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power, and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
      Contact Us:
      John Watson
      Head of Business Development
      Reports And Data | Web: www.reportsanddata.com
      Direct Line: +1-800-819-3052
      E-mail: [email protected]
    • By Joe Marconi
      Retail stores have known for a long time that adding or increasing the size of shopping carts also increases sales. Consumers may go to the store with a list, but as they pass through the aisles, having a cart makes it easy to add to that list. 

      While your repair shop does not use shopping cart, the same strategy can used. Every customer that books an appointment as done so with some sort of list; an oil change service, a brake issue, tire rotation, etc. 

      Through an effective multipoint inspection and looking at service schedules, you can make suggestions to your customers that can add to their cart; essentially increasing sales per vehicle.

      One last thing: Always make service and repair suggestions to the customer that is in their best interest and have value, and you can’t go wrong.  It’s actually great customer service. 

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