That’s right, America’s vehicles are aging. For the past two years, the median age of passenger cars in operations held strong at 9.2 years, but 2008 data from R.L. Polk & Co. shows that age has increased to 9.4 years.
Polk consultants blame the economy, rising gas prices and limited discretionary income as the reason for the increase, since folks may find it cheaper to fix or repair a car rather then buy a new one.
Passenger vehicles weren’t the only types to see an uptick in age. Other vehicles whose age has increased from last year:
- Trucks: up to 7.6 years from 7.3
- Light trucks: up to 7.5 years from 7.1
For those businesses feeling the economic pinch and needing to hang on to their vehicles a little longer, consider the maintenance reporting that a fleet fuel card provides. A fleet fuel card can help you keep track of maintenance schedules for all of your vehicles so you can get the most mileage-and years-out of them.
Does the Polk report accurately reflect the age of your company’s vehicles? Are yours newer or older?
For the complete report, click here.
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