U.S. Light Vehicles In Operation To Grow 6% Over Next 5 Years

The fleet of light vehicles in operation in the United States has hit a record level of more than 278 million and will grow 6% over the next five years, according to IHS Markit. In addition, the average age of light vehicles in the United States has risen to 11.8 years, which the firm attributes to better technology and vehicle quality improvements.

As the average age increases, it impacts the aftermarket “sweet spot” because the population of older vehicles continues to rise. According to IHS Markit, light vehicles 16 years and older will increase by 17% over the next five years, providing more repair opportunities coming from these older vehicles.