According to a report by Polk, the worldwide leader in automotive intelligence, the average age of cars and light trucks has increased to a record 10.8 years. The age of passenger cars is now at 11.1 years while light trucks, which include pickups and SUVs, jumped to 10.4 years.
This is good news for parts stores and independent repair facilities because they should see increased sales of items such as aftermarket air suspension products. According to Mark Seng, global aftermarket practice leader at Polk, “The increasing age of the vehicle fleet, together with the increasing length of ownership, offers significant business growth opportunity for the automotive aftermarket.”
Polk reported that the average length of ownership of vehicles is more than 53 months, an 18-month increase since 2001. With original equipment air suspension systems lasting anywhere from 80,000 – 100,000 miles, owners who hold onto their vehicles or purchase used luxury cars and SUVs will have to replace air suspension products at least once, if not more often, in the lifetime of their vehicle.