The Era of the 13-Year-Old Car: How Americans Are Reshaping the Automotive Landscape
American drivers are holding onto their vehicles for record-breaking durations, with the average age of cars on U.S. roads reaching an all-time high of 13.6 years in 2024, according to data from S&P Global Mobility. This shift, driven by high interest rates, elevated vehicle prices, and supply chain instability, is fundamentally altering the business models…