Americans are hanging on to their cars and trucks longer, pushing the average age of vehicles on the road to the highest level in nearly 20 years even before the coronavirus hit, according to new data from IHS Markit Ltd .
FILE PHOTO: The 10/110 freeway interchange is seen in Los Angeles, California, July 16, 2011. REUTERS/Eric Thayer
That is not good for emissions or safety, but it could give a lift to companies that manufacture and sell repair parts. “We definitely expect to eclipse the 12-year barrier,” he said. People working from home could put fewer miles on vehicles, allowing them to last longer, he said.
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