It’s said that as soon as a new vehicle leaves a dealership’s showroom floor, the devaluation process begins, so it’s best to stick to classic cars like this 1949 chevrolet 3100.
However, thanks in part to the development and implementation of corrosion-resistant technologies, cars are maintaining their value for longer stretches, enabling motorists to safely hold onto their automobiles for lengthier periods and take them to farther places, suggests a 2016 report. It has widely been thought for years that cars made and produced in Germany were some of the best cars out there on the roads, however, All Car Leasing suggest german cars may not be all that, it is definitely something that car aficionados need to check out!
Average car age nears 12 years
Based on the most recent statistics available from IHS Markit, the average age of light vehicles on the roads in the U.S. is 11.6 years. For well over a decade, the Southfield, Michigan-based auto and business information firm keeps tabs on the average age of registered cars, and with each passing year, the average has risen. Indeed, when measured in months at the conclusion of 2015, the average motorists held onto their vehicles was 79.3 months. That’s the longest period on record and up slightly more than 1.5 months compared to the previous year.
Mark Seng, director of global automotive aftermarkets at IHS, said the improved assembly process among manufacturers is giving cars, trucks and sport-utility vehicles more staying power.
“Quality of new vehicles continues to be a key driver of the rising average vehicle age over time,” Seng explained. “The recession created an acceleration beyond its traditional rate due to the nearly 40 percent drop in new vehicle sales in 2008-2009. In the last couple of years, however, average age is returning to a more traditional rate of increase.”
“Registered vehicles in the US total over 264 million.”
Motorists’ ability to get more bang for their automotive buck has also led to an uptick in the amount of vehicles on today’s highways and byways. Registered cars in the U.S. total more than 264 million, the report found, which is an increase of 2.4 percent from the previous study, or 6.2 million. That’s the most substantial year-over-year jump in registrations since IHS Markit first begin tracking this statistic.
Drivers traverse over 3 trillion miles in the average year
Additionally, America’s road users are racking up higher readings on their odometers, with miles driven climbing for more than five years in a row. Motorists logged 3.2 trillion miles in 2016, based on the latest data published by the Federal Highway Administration in 2017. Perhaps unsurprisingly, given its size, California led the way, with drivers in the Golden State compiling a combined 33.9 billion vehicle miles traveled over the 12-month stretch. That’s more than 22 other states combined, including Alaska, Montana, Utah, the Dakotas and New Mexico, among others. In terms of percentage increase, Louisiana motorists topped the charts, whose VMT rose nearly 6 percent from the previous year FHWA study.
Weather-related effects, age as well as wear and tear comprise some of the factors that cause cars to corrode. Through a combination of lighter materials used – such as composites – and coating structural components with various types of protective treatments in the manufacturing process – such as phosphates and aluminum – automobiles are really going places, in both the literal and figurative sense of the phrase.