The average age of the cars Americans are driving has reached a record high.
Automotive information firm R.L. Polk & Co. said the average age of the 247 million vehicles on U.S. roads stands at an all-time high of 11.4 years as of this year.
That is up from 11.3 last year and 9.7 years in 2003.
The average age of passenger cars was a record 11.4 years, while the average age of light trucks stands at 11.3 years.
The average age of cars started to rise quickly during the Great Recession and in subsequent years, which were characterized by a slow economy. Drivers, worried about their jobs, have hung on to older cars instead of going out and purchasing new vehicles.
This period coincided with a time when cars become more reliable, allowing people to drive them for more years without incurring constant repair expenses.
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