10/30/2013 - Polk: Cars, light trucks staying on road longer than ever
As technologies and advanced manufacturing systems advance, automobiles are proving to stand the test of time by staying on the road for a longer period, according to the results of a recent report.
Automotive information and marketing firm Polk performed an analysis on the number of cars that are currently on the road in the U.S. and how old they are before having to be decommissioned.
For passenger cars, the average is now at a record high 11.4 years, with passenger trucks aging to an average of 11.3 years, also a top performance. In fact, stretching back to 2002 the average age of both passenger cars and light trucks has risen consistently, jumping approximately two years in just over a decade.
While there are a variety of factors that influence auto insurance rates, age is one of them. As a general rule, the older a vehicle is, the cheaper it is to insure.