Polk Report Shows Vehicles Living Longer

According to the vehicle population report released by R. L. Polk & Co. this week, 4.3 percent of total passenger cars and trucks were scrapped in 2005. This most recent overall motor vehicle scrappage rate represents a historic low, last set in 1949. The scrappage rate for passenger cars in 2005 was 4.5 percent, another record low. In addition, light truck scrappage rates experienced a third straight year of decline at 4.1 percent in 2005. (TABLE A) "Despite a record number of new heavy and light truck registrations in 2005, scrappage rates still decreased," said Mike Gingell, vice president of Polk's Aftermarket team. "This implies that vehicles are lasting longer and, based on the light truck to car ratio for new vehicles, the data shows that light trucks are continuing to make up a larger percentage of the vehicle population." The median age of U.S. vehicles also increased across all major vehicle categories. Median car age was nine years in 2005, which continues a four- year record setting trend. For all trucks, the median age increased to 6.8 years in 2005. Light truck median age in 2005 increased to 6.6 years. (TABLE B) "Light vehicles are on the road longer today than they have ever been," said Dave Goebel, consultant for Polk's Aftermarket Solutions. "As vehicle durability and technology continues to improve each year, we expect the trend of increased vehicle longevity to continue." In 2005, 34.8 percent of the light vehicle population was 11 years of age and older, compared to 29.1 percent in 1996. Over this same ten-year period, the number of vehicles 11 years of age and older grew an average of 4.5 percent per year.