The average age of passenger cars is currently at a record high 11.4 years, while light trucks reached 11.3 years, also marking a record high, according to a new Polk report.
The report noted that the while vehicles on the road ages 6 to 11 are decreasing, vehicles on the road that are older than 12 years are increasing. Experts note that this represents a good opportunity for the aftermarket automotive industry, as demand will be high to service and repair these aging vehicles.
"These are interesting times for the automotive aftermarket," said Mark Seng, vice president of Polk's aftermarket practice. "Customers from independent and chain repair shops should be paying close attention to their business plans and making concerted efforts to retain business among the do-it- for-me (DIFM) audience, while retailers have a unique and growing opportunity with potential consumers wrenching on their own vehicles."
Used cars are a popular buy
A separate report from Manheim showed that the used vehicle volume for the seven publicly traded car companies increased for 16 quarters on a year-over-year comparison. While the automotive industry has seen strong new car sales throughout 2013, used vehicle sales continue to rise.
Demand for accessories is up
While the aftermarket automotive industry stands to gain from the aging fleet of vehicles, owners can also take their own measures to protect their cars.
Husky Liners® custom fit floor mats will easily install into any vehicle and will do a superb job in maintaining the interior of a vehicle. As cars are more than 11 years old and are likely lasting well beyond the 100,000 mile market, floors mats would be the ideal way to making an old interior look brand new.