The average age of cars and light trucks in the U.S. has reached a new record of 12.6 years in 2024, up from 12.4 years in 2023, according to S&P Global Mobility.
This increase presents significant opportunities for the aftermarket and vehicle service sectors, as older vehicles often require more maintenance and repairs.
“With the average age of vehicles rising, more are entering the prime range for aftermarket service,” said Todd Campau, aftermarket practice lead at S&P Global Mobility. Currently, 38% of vehicles fall into the 6-14 year ‘sweet spot’ for repairs, a figure expected to grow to 40% by 2028.
The U.S. vehicle fleet now totals 286 million, with electric vehicles (EVs) surpassing 3.2 million. Despite a slight slowdown in EV growth, significant expansion is anticipated over the next decade.
For more information, visit S&P Global Mobility.
