The Morning Breeze w/ Carolyn McArdle & Cort Johnson

The Morning Breeze w/ Carolyn McArdle & Cort Johnson

The Morning Breeze on 98.1 The Breeze in San FranciscoFull Bio

 

Americans Are Keeping Their Cars Longer

Portrait of happy teenage boy sitting in vintage car looking out of window

Photo: Getty Images

Maybe it's a result of the pandemic (see more below), but American's are keeping their vehicles longer - with an average age of 12.5 years old.

Which means Carolyn's 2015 and Cort's 2018 are actually on the newer side of things.

The trend may have to do with average price of a new car. Since the pandemic hit, the average new vehicle rose 24% to nearly $48,000 as of April, according to Edmunds.com. Not to mention the average loan rate increasing to around 7% since the latest round of inflation took effect.

Hear Carolyn and Cort from the Morning Breeze talk about it below:


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