There are 17.3 million more light-duty vehicles seven years and older on the road in the U.S. than there were three years ago, according to Experian Automotive. According to its Q1 2012 Vehicles in Operation (VIO) market analysis, there are more than 245 million vehicles on U.S. roads, and the age of vehicles increased when compared to Q1 2011, up 1.9 percent to an average age of 11 years.
"An increase of later-model vehicles on the road is a positive sign for the industry because it creates growth opportunities in the important aftermarket sector," said Jeffrey Anderson, director of consulting and analytics for Experian Automotive. "With lower scrappage rates, historically large sales of older-model vehicles and an increase in incentives for maintaining vehicle ownership, aftermarket part manufacturers and retailers will see an influx of shoppers looking to extend the life of their vehicle."
Additional data from the report showed Ford as the most prevalent make on the road in Q1, followed by Chevrolet, Toyota and Honda for both Canada and the U.S. At the model level, the U.S. analysis showed that the Ford F-150 had the largest volume on the road, followed by the Honda Accord, Toyota Camry and Chevrolet Silverado.
Other findings from the analysis showed that light trucks in the U.S. continue to grow and maintain a higher percentage of the total VIO than passenger cars. Light trucks made up 50.8 percent of the total U.S. VIO in Q1 2012, compared with 49.2 percent of passenger cars. Full-sized pickups make up the greatest percentage of VIO, at 14.6 percent overall, with General Motors, Ford, Chrysler and Toyota making up the greatest majority (98.7 percent) of those vehicles.
Experian's U.S. and Canadian VIO data is coded to Automotive Aftermarket Industry Association (AAIA) standards and includes quarterly deliveries (available four weeks at the close of each quarter). For more information, visit www.ExperianAutomotive.com.
PR Newswire contributed to this report.
Most Popular Stories
- SEO Traffic Lab Celebrate Wins at Digital Marketing Event 'Internet World 2013' in London
- Social Media Initiatives Should Follow Customers' Lead
- Apple CEO: Offshore Units Not a 'Tax Gimmick'
- U.S. Senate Accuses Apple of Large-scale Tax Avoidance
- UTEP Water Recycling Project Wins Venture Titles
- Marketo Makes a Mint in IPO: Stock Shoots Up More than 50 Percent
- Bieber Booed at Billboard Awards
- Crude Oil Up, Gasoline Down
- Austin Startup Compare Metrics Raises $3.5 Million for Expansion
- Why So Many Top 'Car Guys' Are Actually Women