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Crash Course - Q1 2025 The age mix of non-comprehensive valuations is highly representative of the age vehicle mix within the U S car parc Over 70% of total loss valuations in 2024 were on vehicles 7 years or older
US Car Parc Keeps Getting Older, Creating More Opportunities . . . According to IHS Markit, the shifting dynamic of the age of vehicles in operation indicates the volumes of vehicles in the new to five-year-old category will grow 2% from 2018-2023, while vehicles in the 6- to 11-year-old-range will grow 27%
Varying U. S. Car Parc Factors Impacting Auto Claim, Collision . . . There are now 292 3 vehicles in operation, two-thirds of which are 7 years old or older The pandemic negatively affected the light vehicle average for sales on a 12-month basis Prior to the onset of COVID, from January 2018 to February 2020, that number hovered around 17 1 million
Aftermarket Report: Analyzing the Impact of Vehicle Age on Sales When it comes to the aftermarket industry, vehicle age plays a crucial role in determining sales and customer demand The age of a vehicle directly impacts the need for repairs, maintenance, and upgrades, which in turn drives the overall aftermarket sales
Average Age of Light Vehicles in the US Hits Record High 12. 5 . . . With more than 284 million vehicles in operation (VIO) on US roads, the average age of cars and light trucks in the US has risen again this year to a new record of 12 5 years, up by more than three months over 2022, according to the latest analysis from S P Global Mobility
S P: Older vehicle parc likely means longer repair backlog With the average age of vehicles on the road reaching a record high, S P Global Mobility says the automotive repair industry will likely see additional growth in both damage repair and