Average Age of Light Vehicles in U.S. Reaches 11.5 Years

Registrations of cars and light trucks in the U.S. rose 2% to a record 257.9 million vehicles at the end of 2014, and their average age lengthened to a record 11.5 years, according to market analysts at IHS Automotive.

IHS says new-vehicle registrations last year outgrew the market's scrappage rate by 42%, the largest margin on record. The firm says the number of vehicles taken out of service plunged from more than 14 million in 2012 to about 11 million in 2014.

IHS notes that the average age of America's fleet surged about five times its normal pace following the 2008-2009 recession, because many consumers stopped replacing their vehicles. Now shoppers are buying again, so the firm predicts a return to more modest growth in average age.

The average has consistently increased as the quality of vehicles improves, IHS notes. It predicts the measure will reach 11.6 years in 2016 and 11.7 years in 2018.