1.5 Million More Cars on Road Than in 2013
The pool of vehicles in the U.S. is getting larger.
As of June 30, there were more than 249 million cars on American roads — and the average age of these vehicles inched up from where it was a year ago.
That’s according to the latest Experian Automotive Quarterly Briefing released this week, which dissected vehicles in operation data along with a whole host of used-car market metrics.
The report indicates there were 249.4 million vehicles in operation during the second quarter (as of June 30), compared to 247.9 million a year earlier.
Just over a quarter of the cars on the road (25.2 percent) are from model-year 2010 or later, and 93.3 million vehicles are in what Experian called the “sweet spot” — model-years 2003 through 2009.
The average age of cars on the road in Q2 was 11.0 years, up from 10.9 in Q2 of 2013. However, the 15-year rolling age dipped from 7.7 years to 7.6.
The report also dives into year-to-date vehicle registrations. In the first half of 2014, there were 20.36 million used-vehicle registrations, down from 20.71 million in the same period of 2013.
New-vehicle registrations, however, climbed from 7.96 million to 8.29 million.