Americans Keep Vehicles for Record 12.6 Years: S&P

Automobile owners in the United States are holding on to their vehicles longer, according to a new study, even as major supply disruptions caused by the COVID pandemic ease and availability at dealerships rise. The average age of U.S. cars and light trucks this year rose to a record 12.6 years, according to the report by S&P Global Mobility on Wednesday, up by two months from 2023. Though the rise in the average age of vehicles has slowed as new registrations improve, S&P said it expects those aged six to...