The average age of vehicles on US roads will increase to 12.2 years due to supply shortages.
The average age of all vehicles on US roads will increase to 12.2 years in 2022, the fifth consecutive year. This is the highest rate in the United States
According to a study by S&P Global Mobility, the average vehicle age will increase by two months in 2021, which blames the obsolete US fleet primarily for the continuation of the supply chain.
The biggest factor pushing Americans to keep their cars on the road longer is the restrictions on the supply of chips, which prevent carmakers from driving at the pace reached before the pandemic.
Also read: As fuel prices have risen, the price of used fuel-efficient cars has risen by 60%.
In addition to the lack of equipment, the pandemic has prompted more travelers to choose private transport over public or shared options. And now that pandemic restrictions have been lifted, the average number of miles traveled has reached pre-pandemic levels. Without access to many new cars, consumers will buy old cars or keep existing ones for a long time, which is good news for mechanics.
Todd Kampau, S&P Global Mobility’s Deputy Director of Post-Market Solutions, said: “As the average age increases, average vehicle traffic will show a significant increase in repair revenue next year.”
This news is not like car scrapers. High demand for vehicles and declining production mean that by 2021, only 11 million vehicles will be decommissioned or destroyed, or only 4.2 percent of existing vehicles. This is the lowest annual figure for the last two decades. It is also the highest figure in 20 years, compared to 2020, when more than 15 million vehicles were destroyed.
This is expected to be a temporary situation, and once vehicle production resumes at full speed, the level of fractures will rise and the average age of the US Navy will decrease. Unfortunately, the ongoing crisis in Ukraine may affect the supply of new cars next year, so the situation may worsen before it improves.