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The average age of passenger cars and trucks on the road in the US – light “vehicles in operation” or VIO – rose to another record of 11.9 years in 2020, according to IHS Markit. But this doesn’t yet include the effects of the Pandemic o...
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The same period, approximately 15.6 million new light trucks and automobiles were sold here. Declining availability of vehicles In the fourth quarter of 2023, about 288.5 million vehicles were in operation in the United States, an increase of under one percent year-over-year. The rising demand...