R. L. Polk & Co. Reports U.S. Motor Vehicle Longevity Increases in 2006
02-15-07, 06:12 PM
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R. L. Polk & Co. Reports U.S. Motor Vehicle Longevity Increases in 2006
-- Median age for passenger cars was a record high at 9.2 years
-- Five percent of all U.S. motor vehicles were scrapped in 2006
SOUTHFIELD, Mich., Feb. 15 /PRNewswire/ -- According to the vehicle
population report released today by R. L. Polk & Co., the median age of
passenger cars in operation increased to 9.2 years in 2006, a record high.
For trucks, the median age increased slightly from 6.8 years in 2005 to 6.9
years in 2006. Specifically, light truck median age increased by 3.0
percent to 6.8 years, the largest increase across the major vehicle
categories (TABLE A). Polk's vehicle population report data is updated
annually on July 1, following an in-depth analysis of more than 230 million
vehicles.
"The median age of trucks continues to be lower than cars, due in part
to the increased variety of light trucks and SUVs available in the market
over the last five years," said Mike Gingell, vice president of Polk's
Aftermarket team. "However, the increase in median age for light trucks in
2006 suggests light truck owners are driving their vehicles longer before
considering or switching to a car. We anticipate light trucks to continue
making up a larger percentage of the vehicle population."
The percentage of total passenger cars and trucks scrapped in 2006 was
5.0 percent, a near historic low. The passenger car scrappage rate was 4.9
percent in 2006. For all trucks the scrappage rate was 5.1 percent and
light truck scrappage was 5.2 percent (TABLE B).
"Despite the increase in the scrappage rate for 2006, the percentage of
light vehicles in use that were 11 years of age and older increased one
percentage point over last year to a new all-time high, representing 35.8
percent of the light vehicle population," said Dave Goebel, a consultant
for Polk's Aftermarket Solutions. "This is more evidence that vehicle
engineering and durability continues to improve with each new model year."
About R. L. Polk & Co.
R. L. Polk & Co. is the premier provider of automotive information and
marketing solutions. Polk collects and interprets global data, and provides
extensive automotive business expertise to help customers understand their
market position, identify trends, build brand loyalty, conquest new
business and gain a competitive advantage. Polk helps automotive
manufacturers and dealers, automotive aftermarket companies, finance and
insurance companies, advertising agencies, media companies, consulting
organizations, government agencies and market research firms make good
business decisions. A privately held global firm, Polk is based in
Southfield, Mich. with operations in Australia, Canada, China, France,
Germany, Japan, Spain, the United Kingdom and the United States. For more
information, please visit http://www.polk.com.
SOURCE R. L. Polk & Co.
-- Five percent of all U.S. motor vehicles were scrapped in 2006
SOUTHFIELD, Mich., Feb. 15 /PRNewswire/ -- According to the vehicle
population report released today by R. L. Polk & Co., the median age of
passenger cars in operation increased to 9.2 years in 2006, a record high.
For trucks, the median age increased slightly from 6.8 years in 2005 to 6.9
years in 2006. Specifically, light truck median age increased by 3.0
percent to 6.8 years, the largest increase across the major vehicle
categories (TABLE A). Polk's vehicle population report data is updated
annually on July 1, following an in-depth analysis of more than 230 million
vehicles.
"The median age of trucks continues to be lower than cars, due in part
to the increased variety of light trucks and SUVs available in the market
over the last five years," said Mike Gingell, vice president of Polk's
Aftermarket team. "However, the increase in median age for light trucks in
2006 suggests light truck owners are driving their vehicles longer before
considering or switching to a car. We anticipate light trucks to continue
making up a larger percentage of the vehicle population."
The percentage of total passenger cars and trucks scrapped in 2006 was
5.0 percent, a near historic low. The passenger car scrappage rate was 4.9
percent in 2006. For all trucks the scrappage rate was 5.1 percent and
light truck scrappage was 5.2 percent (TABLE B).
"Despite the increase in the scrappage rate for 2006, the percentage of
light vehicles in use that were 11 years of age and older increased one
percentage point over last year to a new all-time high, representing 35.8
percent of the light vehicle population," said Dave Goebel, a consultant
for Polk's Aftermarket Solutions. "This is more evidence that vehicle
engineering and durability continues to improve with each new model year."
Code:
Table A
MEDIAN AGE OF VEHICLES
Statistics as of July 1, Each Year
All Light
Year Cars Trucks* Trucks**
1997 8.1 7.8 7.3
1998 8.3 7.6 7.1
1999 8.3 7.2 6.9
2000 8.3 6.9 6.7
2001 8.3 6.8 6.1
2002 8.4 6.8 6.6
2003 8.6 6.7 6.5
2004 8.9 6.6 6.4
2005 9.0 6.8 6.6
2006 9.2 6.9 6.8
Source: R. L. Polk & Co.; *GVW 1-8; **GVW 1-3
Table B
VEHICLE SCRAPPAGE RATES
Statistics as of July 1, Each Year
All Light All
Year Cars Trucks* Trucks** Vehicles
1970 9.5% 5.0% NA 8.7%
1980 8.1% 5.1% NA 7.4%
1990 7.2% 4.1% NA 6.3%
1995 6.1% 4.4% NA 5.5%
2000 6.4% 7.5% 7.4% 6.8%
2001 6.0% 7.6% 7.1% 6.6%
2002 5.6% 7.0% 7.2% 6.1%
2003 5.2% 7.7% 6.0% 5.5%
2004 4.8% 6.0% 4.7% 5.3%
2005 4.5% 4.0% 4.1% 4.3%
2006 4.9% 5.1% 5.2% 5.0%
Source: R. L. Polk & Co.; *GVW 1-8; **GVW 1-3
About R. L. Polk & Co.
R. L. Polk & Co. is the premier provider of automotive information and
marketing solutions. Polk collects and interprets global data, and provides
extensive automotive business expertise to help customers understand their
market position, identify trends, build brand loyalty, conquest new
business and gain a competitive advantage. Polk helps automotive
manufacturers and dealers, automotive aftermarket companies, finance and
insurance companies, advertising agencies, media companies, consulting
organizations, government agencies and market research firms make good
business decisions. A privately held global firm, Polk is based in
Southfield, Mich. with operations in Australia, Canada, China, France,
Germany, Japan, Spain, the United Kingdom and the United States. For more
information, please visit http://www.polk.com.
SOURCE R. L. Polk & Co.
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