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Why The American Car Fleet Is Getting So Old

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In 2021, the average age of vehicles on the road reached a record 12.1 years. Every driver that chooses to hold on to a car for another year is postponing a trip to the dealership, and some industry analysts wonder if rising vehicle ages and prices indicate trouble for new car sales in the future. Automakers are stuffing cars with new technology and improvements but will that be enough to keep buyers wanting the latest and greatest? » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe

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in 2021 the average age of vehicles on the road in america reached a record 12.1 years cars are getting faster safer more tech heavy and the average age of a vehicle in the u.s is rising it has been increasing for really ever since we've been recording it two big reasons for this say industry analysts cars have been growing more durable and more expensive drivers are holding onto their cars longer and cars are spending more time in the used vehicle market before they head to the junkyard i have a 1993 80 series lancaster that i bought brand new 28 years ago and it has 215 000 miles on it and the engine's never been apart i have serviced the vehicle uh regularly and faithfully many buyers especially those with less money to spend are seeking out used vehicles as new vehicle prices climb there is some concern that this is going to reduce the the churn rate or the number of folks that are going to be buying a new vehicle so far though plenty of americans seem to be buying new cars new veh