With The Median Age Of A Vehicle Being Over 9 Years, Are You Being Responsible Trading In At 4?

The median age of passenger cars in operation remained at 9.2 years in 2007 tying a record high in 2006, according to the vehicle population report released today by R. L. Polk & Co. The median age for trucks increased 5.8 percent to 7.3 years in 2007.

Though registrations were down, the median age for light trucks in 2007 increased by 4.4 percent to 7.1 years.

"The median age of trucks, while still lower than cars, is starting to increase more now than in the recent past as the surge of pick-up trucks, SUVs and minivans purchased in the 1990s get older," said Mark Seng, vice president of Polk's Aftermarket team.

The percentage of total passenger cars and trucks scrapped in 2007 was up slightly to 5.2 percent compared to 5.0 percent in 2006. The scrappage rate for passenger cars increased to 5.5 percent in 2007 from 4.9 percent.

(TABLE B).

"We continue to see increasing vehicle durability across all vehicle types regardless of last year's increase in the scrappage rate for cars, light trucks and total vehicles," said Dave Goebel, consultant for Polk's Aftermarket Solutions team. "In 2007, the percentage of the car population 11 years of age and older was 41.3 percent, compared to 40.9 percent in  2006. For light trucks, this percentage was 29.5 percent in 2007 and 29.2 percent in 2006."

Polk's vehicle population report data is updated annually on July 1, following an in-depth analysis of more than 248 million vehicles.

    Table A

                             MEDIAN AGE OF VEHICLES

                       Statistics as of July 1, Each Year

                                                      Light

                   Year        Cars    All Trucks*   Trucks**



                   1998         8.3         7.6         7.1

                   1999         8.3         7.2         6.9

                   2000         8.3         6.9         6.7

                   2001         8.3         6.8         6.1

                   2002         8.4         6.8         6.6

                   2003         8.6         6.7         6.5

                   2004         8.9         6.6         6.4

                   2005         9.0         6.8         6.6

                   2006         9.2         6.9         6.8

                   2007         9.2         7.3         7.1



                 Source: R. L. Polk & Co.; *GVW 1-8; **GVW 1-3

    Table B

                             VEHICLE SCRAPPAGE RATES

                       Statistics as of July 1, Each Year

                                    All     Light     All

                  Year     Cars    Trucks* Trucks** Vehicles



                  1970     9.5%     5.0%      NA      8.7%

                  1980     8.1%     5.1%      NA      7.4%

                  1990     7.2%     4.1%      NA      6.3%

                  1995     6.1%     4.4%      NA      5.5%

                  2000     6.4%     7.5%     6.7%     6.8%

                  2001     6.0%     7.6%     6.4%     6.6%

                  2002     5.6%     7.0%     6.2%     6.1%

                  2003     5.2%     5.9%     5.5%     5.5%

                  2004     4.8%     5.1%     4.8%     4.9%

                  2005     4.5%     4.1%     4.3%     4.3%

                  2006     4.9%     5.2%     5.0%     5.0%

                  2007     5.5%     4.8%     5.2%     5.2%



                 Source: R. L. Polk & Co.; *GVW 1-8; **GVW 1-3

 

enthusiastx11 - 2/20/2008 5:41:53 PM

+2 Boost

this is a rather pointless question.
different people have different priorities.

and if the AVERAGE is 9 years, that means roughly 50% of people drive their cars for LESS than 9 years.

Agent009 - 2/21/2008 8:54:46 AM

0 Boost

But if your priority is new for the sake of vanity then I dare say you are not responsible.

Autoegr525 - 2/21/2008 9:22:18 AM

+2 Boost

I'd say most people's priority for new is to rid themselves of a four or five year old liability with an expired warranty. That's not vain it's smart

LexSucks - 2/20/2008 6:07:02 PM

+1 Boost

Yes you are being responsible by trading in your car every 4 years. Other than personal finances, what negative impact does getting a car every four years have on the environment or the economy?

XYZZ - 2/21/2008 7:21:07 AM

+1 Boost

helps keep detroit in business.

VISO - 2/21/2008 3:00:12 PM

+1 Boost

Actually, new cars tend to have better technology which in theory should be better for the environment. However, many buyers are taking out 60-72 month and even 84 month loans. Slowly a car will be like a house purchase. Trading cars every 4 years will become an impossibility with these types of loans. The negative equity after 4 years if you have these loans should be enough to push one to keep the vehicle.

SteedPub - 2/20/2008 6:33:58 PM

+1 Boost

What the hell does "responsible" mean anyway? Responsible in what forum?

The statistic is not surprising however as the economy slows. Note, that the lowest years started in 2001 when just after 9/11 the automakers rolled out tons of rebates and 0% financing programs to "Keep America Rolling"

In the past couple of years, the American auto companies have been forced to reduce rebates and increase interest rates, contributing to the slowing sales of new cars.

Lastly, because of all the rebates and price slashing car companies have been doing since 2001, the resale value of these cars has been decimated. Thus, those who want to trade are finding themselves upside down and are forced to keep their cars longer.

XYZZ - 2/21/2008 7:33:34 AM

+1 Boost

as toyota and honda have been increasing their market share over the past decade, the number of owners NOT wanting OR HAVING to trade sooner than later have increased.

(their vehicles have fewer problems, later in their lives. my newer toyota is 5 yrs old; barely broken in and fully ready for at least another 5-10 yrs. my older toyota is 14 yrs old. also good for a MINIMUM of 5 more.
(a friend has a honda coupe ~8 yrs old. with a recent shoulder injury, she has to call back into service her EVEN OLDER honda which has an automatic. only needs to get a new battery.)

flip side, is the declining market share of the no longer 'big 3.' as a result, again, on average the nat'l auto fleet has become longer lived.

if the study had gone further and given the ages and scrappage rates by make, this analysis would likely be verified.

ok, deboost away!

Obliv - 2/21/2008 2:40:41 PM

+3 Boost

my 1990 tbird was still running strong after 17 years of being beaten on a daily basis until I sold it last year. It was factory supercharged too, and the first thing to break on it was the head unit of the radio in 2002. I also owned a 1992 mustang gt that had 265k miles on it before I sold it. I did replace the tranny in that though, but other then that it was perfect.
In reality, it doesnt matter which car you buy. As long as you take care of your car, it will return the favor.

XYZZ - 2/21/2008 12:00:57 PM

0 Boost

yes, we "fools" laff all the way to the bank!

we make car payments for just a few years, then just PAY OURSELVES for another DECADE or two. while the idiots who never get past detroit junk have to buy a new car every 3,4, 5 years or so.

XYZZ - 2/21/2008 12:29:35 PM

0 Boost

and don't blame US economically responsible and INTELLIGENT folks for the recesssion.

blame the TRUE culprit: your village idiot president who couldn't find Osama if they were in the same pair of pants together. meanwhile, he blows hundreds of billions in stupid wars.

XYZZ - 2/22/2008 4:40:41 AM

+1 Boost

there'll be a thousand morons like YOU hitting the soup line, LONG before people of MY mental level even need tighten our belts.

since countrymEn is plural, how is it possible for there to be "ONE COUNTRYMEN?"

have fun, CONTINUING to display your stupidity publicly! LOL!

XYZZ - 2/22/2008 4:50:45 AM

+1 Boost

armies of idiots like YOU.

XYZZ - 2/25/2008 1:49:30 AM

+1 Boost

idiots are not all confined in america's borders, as you so wonderfully demonstrate.

XYZZ - 2/25/2008 1:49:34 AM

+1 Boost

idiots are not all confined in america's borders, as you so wonderfully demonstrate.

XYZZ - 2/25/2008 1:55:36 AM

0 Boost

if you're NOT american, and you STILL support gm junk, that DOUBLY reflects on your low intelligence. ROTFLMAO!!!

XYZZ - 2/26/2008 4:54:34 AM

+1 Boost

LOL! you only "have a better" DELUSION of what's going on in the auto world if you're backing gm.

gm is no longer #1 and is fighting to not go bankrupt! how many companies can manage to lose $40 BILLION in a mere single year?

i believe in the u.s. auto industry too. where the NEW 'big 3' will be toyota, honda, and MAYBE gm in a distant 3rd. (maybe merged with the faltering ford and chrysler.)