More Junk Cars on the Road
Over the last decade, car design has changed dramatically. Electric cars are widespread with charging stations all over major cities. Almost all new cars have backup cameras and lane assistance. Not to mention personalized honks, computer-sized screens in the dashboard, and the introduction of self-parking vehicles. Despite all of this modernization, 2021 was deemed the year with the eldest cars on the road.
A study conducted by IHS Markit found that the average age of a car on US roads rose to 12.1 years of age in 2021. This is slightly higher than the 11.9 years of age average found in 2020 and considerably higher than the 9.6 years of age average in 2002. This is the first time in car history that the average has been higher than 12 years according to a Car and Driver article published in 2021.
About 10 years ago drivers expected to get a new car after hitting 100,00 miles. Today there are more cars than ever that have 200,000 miles or more. iSeeCars published an eye-opening article that found 16% of Toyota Land Cruisers have at least 200,000 miles on them. They also found that 2.5% of other models have at least 200,000 miles or more on their odometers.
There are a few different possible explanations for this new phenomenon. Some of the increased average age may be due to new technological advances that keep cars running for longer. There has also been a drastic increase in the price of new cars over the last several years, the price jumping 3.5% from 2019. The average price of a brand new car in 2021 is now $38,2551.
It has also been found that Americans are purchasing more new cars than ever before, with a 10% increase in car production from 2013. This means that more people are holding onto their older cars while purchasing new cars. Families now tend to have two or three cars rather than replacing their one car.
Some cities are so desperate to move older cars off the road that they are offering buy-back programs. The Bay Area Air Quality Management District has created a program that offers Bay area drivers $1,200 to scrap their old cars. The program is designed to get older cars, 1997 models and older, off the road to lessen the impact of car pollution. Older cars run “dirtier” than newer models, this means that they tend to push out more pollution. In order to be eligible, the car needs to be registered in the bay area for more than 24 months, and the car must be a 1997 model or older. Cars that are within 60 days of their smog check must pass the smog check. To learn more about this program click here.
All of this is good news for a junk car seller. The longer that people hold onto their older cars, the smaller the supply of available used cars is. The smaller the supply the larger the demand. If you have been considering selling an older car now is your chance to make a great profit. Go ahead and call Junk Car Traders to get a top-dollar quote and to start the selling process today. Now is the time to take advantage of this trend and make the most money from your junk car.
