Drivers Planning to Keep Rides Longer
As the average age of vehicles on the road continues to rise, it seems people are looking to keep their rides longer than ever.
According to a recent KBB.com home page poll, a third of respondents said they intend to keep their next vehicle purchase for 10 years or more.
And this is quite a jump from just a few years prior.
“Looking at all vehicle-type considerers, the intent to own has been increasing in the last few years; the average years of vehicle ownership in 2010 was approximately six years compared to seven and a half years in 2012,” the company shared in its latest M.I. Quick Stats report.
Breaking the data down a bit further, supporting studies reveal that new-car shoppers intend to keep their next vehicle for about seven and a half years on average, KBB said.
On the other hand, pickup truck shoppers intend to own their next truck purchase two years longer, with an average of nine years of ownership.