Recently, the average age of motor vehicles on the road in the U.S. has increased, despite consumers buying new vehicles. According to the Lansing State Journal, the typical car on the road in the U.S. is a recording breaking high of 11.5 years old. Since the Great Recession, Americans are buying cars at an annualized rate of more than 17 million vehicles. Although Americans are buying newer cars, the average age of vehicles on the road is still getting older, which may affect the number of car accidents on Michigan roads.
American consumers are buying new motor vehicles at a fast pace and are likely not to scrap their old cars that are still running perfectly fine. People are buying new cars and still keeping their old one on the driveway. Another possibility is that the old vehicle was sold or sent to a used-car market, where someone else bought it. According to the IHS, U.S. vehicle owners bought 42% more care than scrapped in 2014.
"Vehicles are simply lasting longer than ever before," said Mark Seng, global aftermarket practice leader at IHS Automotive, in an interview. "The consumer is hanging onto their vehicle longer than ever before."
All of this is possible due to automakers improving their cars in terms of safety, reliability, performance, and more. The number of vehicles that are at least 25 years old is around 14 million, which is 8 million higher than in 2002. In addition to this, the number of vehicles that are 16 to 24 years old is 44 million, which is 26 million higher than 2002. The IHS projected that over the next five years, the number of vehicles that are older than 12 years will increase by 15%.
If you have been injured in a car crash involving an older vehicle, call The Michigan Law Firm, PLLC. Our accident attorneys specialize in all types of auto accident cases. Call 844.4MI.FIRM for a free consultation today.