According to IHS Markit, US vehicle miles fell by more than 13% in 2020
According to IHS Markit, the average age of American cars jumped to a record 12.1 year in 2020.
It happened when Americans drove fewer and scrapped more cars throughout the pandemic.
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However, as lockdown restrictions are eased, IHS Markit said data could not last long-term sales of both new and used cars.
According to IHS Markit, US vehicle miles fell more than 13% in 2020, but more than 15 million vehicles were discarded. This represents 5.6% of TOAL vehicle population.
According to IHS Markit, a decline in the average vehicle age is generally accompanied by a high scrap rate.
However, as people traveled fewer miles, the decline in car sales during the pandemic has led to an increase in average age by two months from 11.9 in 2019.
Another cause of the decline in vehicle production was a continuous shortage of semiconductors, which led to an increase in prices and subsequently rising used car prices, according to IHS Markit.
