Average Age of Cars & Trucks on the Road Sets Record, Will Jump During Pandemic as New-Vehicle Sales Plunge to 1970s Level | Wolf Street

AGR Free Press

The average age of passenger cars and trucks on the road in the US – light “vehicles in operation” or VIO – rose to another record of 11.9 years in 2020, according to IHS Markit. But this doesn’t yet include the effects of the Pandemic on the auto industry. We’ll get to that in a moment:

Fleet sales to rental fleets – huge customers – have collapsed during the pandemic, and rental fleets are in an existential crisis. Two have filed for bankruptcy: Hertz Corporation, which includes Hertz, Dollar, Thrifty, Firefly) and Advantage. Sales to rental fleets will remain in collapse-mode in 2020.

Average Age of Cars & Trucks on the Road Sets Record, Will Jump During Pandemic as New-Vehicle Sales Plunge to 1970s Level | Wolf Street

View original post