SCHAUMBURG, Ill. -

It may be time for consumers who have held onto their vehicles since the 2008 recession, waiting for the economy to bounce back, to hit the lots for a new unit.

Experian Automotive reported that there are more than 245 million vehicles on U.S. roads, and that the age of vehicles increased when compared to Q1 2011, up 1.9 percent to an average age of 11 years.

And for dealers looking to get their hands on late-model vehicles — often the prime trade-in prospect — 29.9 million of today’s vehicles, or 12.2 percent of vehicles in operation, are current-model-year  to three years old, Experian told Auto Remarketing.

Looking at older units, Experian also found in its Q1 2012 Vehicles In Operation market analysis that  there are more than 17.3 million more light-duty vehicles seven years and older on the road in the U.S. than there were three years ago.

And as maintenance costs inevitably begin to rise for the owners of these aging units, dealers may being to see more of these trade-ins passing through their doors.

That, said, Experian analysts also noted that the aftermarket branch of the industry may begin to reap the benefits, as well, as consumers may choose to keep their older vehicle around a bit longer.

"An increase of later-model vehicles on the road is a positive sign for the industry because it creates growth opportunities in the important aftermarket sector," said Jeffrey Anderson, director of consulting and analytics for Experian Automotive.

"With lower scrappage rates, historically large sales of older-model vehicles and an increase in incentives for maintaining vehicle ownership, aftermarket part manufacturers and retailers will see an influx of shoppers looking to extend the life of their vehicle,” he continued.

What’s on the Roads?

On top of showing the average age of vehicles on the pavement, Experian also reported which models and nameplates dominate the U.S. roads.

Data from the report showed Ford (17.2 percent) as the most prevalent make on the road in Q1, followed by Chevrolet (15.8 percent), Toyota (10.4 percent) and Honda (7.3 percent) for both Canada and the United States.

And even in the light of high gas prices, “findings from the analysis showed that light trucks in the United States continue to grow and maintain a higher percentage of the total VIO than passenger cars,” officials shared.

Specifically, light trucks made up 50.8 percent of the total U.S. VIO of this year, compared with 49.2 percent of passenger cars, officials noted.

“Full-sized pickups make up the greatest percentage of VIO, at 14.6 percent overall, with General Motors, Ford, Chrysler and Toyota making up the greatest majority (98.7 percent) of those vehicles,” the company further explained.

And even though fuel-efficient units are gaining in popularity as technology advances, according to the study, hybrid/electric vehicles still only represent 0.9 percent of VIO in the United States

Breaking it down to the model level, the U.S. analysis showed that the Ford F-150 (3.4 percent) had the largest volume on the road, followed by the Honda Accord (2.6 percent), Toyota Camry (2.6 percent) and Chevrolet Silverado (2 percent).

Editors Note: For insight into Canada’s VIO landscape from Experian Automotive, see Thursday’s issue of Auto Remarketing Canada.