article thumbnail

IHS: average age of vehicles on the road in US steady at 11.4 years; scrappage rate declining

Green Car Congress

In addition, new vehicle registrations outpaced scrappage by more than 24% for the first time in a decade, according to the analysis. This while VIO is up 1.5%, a rate the auto industry hasn’t seen in the US since 2004-2005. million (1.5 percent) since last year.

Scrappage 210
article thumbnail

Polk forecasts global new vehicle auto sales to reach 77.7M in 2012, up 6.7%; expects China sales to grow 16% while US sales recovery slows

Green Car Congress

The US market will experience single digit growth, primarily due to the relatively strong year for sales in 2011, and the effects of the weak economy that will continue to impact new vehicle demand through most of 2012. Polk expects light-duty vehicle sales in the US to grow at a moderate pace, with a 7.3% for the overall US industry.

2012 199