The median age of cars in the United States in 2007 was 9.2 years, equaling the record “old age” record for active cars, according to the consulting firm R.L. Polk & Co. Based on a survey of 240.9 million cars and light trucks, the report detailed Americans are keeping cars and trucks longer as quality improves and the uncertain economy makes new purchases less appealing.
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In 2007, 41.3 percent of all cars were 11 years or older, compared with 40.9 percent the year before.
The median age for trucks and sport utility vehicles rose 4 percent to 7.1 years.
Dave Goebel, a consultant for Polk’s aftermarket team, said those numbers are starting to reflect a surge in truck and SUV purchases in the mid-to late 1990s.
Purchases of new cars fell 3 percent in the U.S. in 2007 as a combination of factors, including high gas prices and the housing crisis, weighed on consumers and led many to put off buying new cars.
The Service Contract Industry Council, a trade group for providers of extended warranties, said it also sees evidence that people are keeping their vehicles longer.
Despite the 3 percent drop in sales last year, there was a 3 percent to 7 percent increase in the number of auto service contracts sold as buyers sought more coverage than the traditional three-year manufacturers’ warranty.