Average Age of Vehicles in the US Increases to 12.2 years, according to S&P Global Mobility
The average age of light vehicles in operation (VIO) in the US rose to 12.2 years this year, increasing by nearly two months over the prior year, according to new research from S&P Global Mobility (formerly the automotive team at IHS Markit).
S&P Global Mobility Significantly Lowers its Light Vehicle Production Outlook; 81.6 Million Units Expected in 2022
The conflict in Ukraine once again exposes the fragility of the world’s economy and the automotive supply chains. The damaging war and severe sanctions against Russia are already having a serious effect on energy prices, raw materials and agricultural goods. On top comes the disruption of the automotive supply chain due to logistical challenges and production stops related to operations on the West Ukrainian border.
