Average US vehicle age hits record 12.6 years as high prices force people to keep them longer

Cars, trucks and SUVs in the U.S. keep getting older. A study published Wednesday says U.S. vehicles hit a record average age of 12.6 years in 2024 as people hang on to their rides largely because new ones cost so much. S&P Global Mobility, which tracks state vehicle registration data nationwide, says the average vehicle age grew about two months from last year’s record. But the growth in age is starting to slow as new vehicle sales recover from pandemic-related shortages of parts, including computer chips. The average age increased by three months in 2023. Still, with an average U.S. new-vehicle selling price of just over $45,000 last month, many can’t afford to buy new.