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Share Of Older Cars On Road Hits Five-Year High

Jul 08, 2014

According to the latest Automotive Market Trends analysis from Experian Automotive, the percentage of vehicles on the road predating the 2001 model year has reached its highest level since 2009. The company estimates that in the first quarter of 2014, vehicles this age made up more than 28.3% of all vehicles on the road, up from 22.1% in 2008, before the economic downturn.During the latest recession, many consumers stayed in their older vehicles for economic reasons. Now, analysis shows consumers may be holding on to their vehicles longer because the quality is better.