2024 Sets New Record for Average Age of Vehicles

The average age of vehicles on U.S. roads has reached a record 12.6 years, according to a recent study by S&P Global Mobility. Todd Campau, the aftermarket practice lead at S&P Global Mobility, highlighted that over 110 million vehicles fall within the 6- to 14-year-old range, making up nearly 38 percent of the used vehicles on the road. This trend is expected to grow, with an estimated 40 percent of vehicles on the road falling within this age group by 2028.

Our senior management team at The Vermont Auto Mart Stores is not surprised by these figures. We recall a time when the average fleet age was significantly younger. However, the soaring costs of new vehicles and the reduction in new vehicle incentives over recent years have led more customers to realize that a reliable used car, truck, or SUV is a better fit for their budget, allowing them to allocate funds to other priorities.

Today's used cars are far more reliable than those from 15-20 years ago, with many vehicles easily surpassing 150,000 miles. Lenders are also more inclined to offer longer-term loans on older used vehicles due to their improved reliability and extended life spans.

At Upper Valley Auto Mart in White River Junction, we offer an extensive inventory of used cars for sale, catering to the Upper Valley communities of Lebanon, West Lebanon, Enfield, New Hampshire, and Norwich, Sharon, White River Junction, Vermont, among others. Our selection includes a variety of makes and models, from Audi to Volvo, with vehicles ranging from 1 year old and older.

Choosing a quality used vehicle is a smart financial decision. It will help your budget, and you'll be part of the growing trend of drivers opting for used vehicles in recent years.