IHS: average age of vehicles on the road in US steady at 11.4 years; scrappage rate declining
Green Car Congress
JUNE 9, 2014
We attribute this to a number of factors, including the economy and the increasing quality of today’s automobiles. Looking ahead, IHS forecasts that average age of vehicles is likely to remain at 11.4 This while VIO is up 1.5%, a rate the auto industry hasn’t seen in the US since 2004-2005. years by 2017 and 11.7
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