Did you know the Cars on the road are on average 9.4 years old?

I was reading this article in Time….see the link below for the full article but it was a great read to understand a bit more about actual cycles in the car market.

A quote, “Now those millions of sedans, pickups and SUVs have reached the end of their useful life. America is becoming a rolling junkyard; the average car is 9.4 years old, a new record, says Buscher. “Light trucks are 7.5 years old. They haven’t been that old for 10 years,” he adds. In two years, says an industry economist, 35 million cars now on the road will be at least 10 years old. There’s not enough duct tape in America to hold that much junk together. Even if they don’t conk out, keeping these beaters going becomes an increasingly expensive proposition.”

They say there will be another big buying spurt coming in 2012, with 2009 being weak and growing stronger each year. That people can’t hold out buying another vehicle for too much longer. But then the question rises, will some people opt to not replacing that second or third car they once had? Also will the big 3 become the big 2 or 1? They say whoever is left and can hang on through 09-10, with viable options may come out even stronger through this economy. I guess time will only tell.

Article : Can Detroit Be Retooled — Before It’s Too Late? Link: http://www.time.com/time/business/article/0,8599,1888986,00.html


~ by debt2dreams on April 9, 2009.

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