Drivers Continue to Keep Cars Longer

U.S. drivers continue to hold onto cars for increasingly longer periods. A new Polk study finds consumers keep their cars almost 6 years, up by 4.7 months from about a year ago.

Junk carThis is the longest period of ownership since Polk began its study in 2001.

Used car owners are also keeping their cars longer, or just over 6 years; also a record to date.

Polk also found that the average age of light vehicles on the road reached a record high of almost 11 years in 2011.

Source: Automotive News

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