Experian Automotive: Total number of vehicles on the road reaches highest level since 2008
Average age of vehicles rose to 10.9 years, up nearly a full year from four years ago
SCHAUMBURG, Ill., Nov. 4, 2013 /PRNewswire/ -- Experian Automotive today announced that the number of cars and light trucks on the road reached 247.9 million in Q2 2013. According to the latest Vehicles in Operation (VIO) market analysis, increased new vehicle sales and lower scrappage rates pushed VIO to the highest point on record since Q3 2008. Additionally, findings showed that the average age of vehicles on the road was 10.9 years in Q2 2013, almost a full year older than was recorded in Q2 2009.
"During the recession, new vehicle sales dropped, causing challenges for aftermarket companies," said Marty Miller, senior manager for Experian Automotive. "However, the recent uptick in new vehicle sales, combined with more aging vehicles on the road, means these challenges will only be in the short term. As these new vehicles begin to age and enter the prime aftermarket repair years, growth opportunities will rebound."
Additional data from the analysis showed that full-sized pickup trucks were the top vehicle segment on the road in Q2 2013 at 14.9 percent of total VIO; they were followed by standard midrange cars (11.9 percent) and small-economy cars (9.1 percent).
From a regional perspective, when looking at new vehicle registrations, the Midwest and South regions followed a similar trend, as full-sized pickup trucks were the top new vehicle segment in each region at 14.1 percent and 13.5 percent, respectively. However, the trends in the West and Northeast regions were drastically different. Full-sized pickup trucks were only the third-ranked new vehicle segment in the West (9.8 percent) and the fifth most popular in the Northeast (7.8 percent). Small-economy cars (12.7 percent) topped the list in the West, while entry-level crossover utility vehicles (14 percent) were the top segment in the Northeast region.
Other findings include:
- General Motors had the highest share of VIO at 26.6 percent, followed by Ford (18.9 percent), Toyota (12.6 percent) and Chrysler (12.5 percent).
- Imports had a 51.8 percent share of total new registrations in the first half of 2013, down from 52.7 percent from a year ago.
- General Motors was the top manufacturer for new vehicles in the Midwest (25.1 percent), South (18.9 percent) and Northeast (14.3 percent) regions in the first half of 2013. Toyota had the highest new vehicle market share in the West region (18.2 percent).
- In Q2 2013, more than half (50.9 percent) of VIO were between model years 2000 and 2008.
- The top five vehicle segments in the United States made up 49.9 percent of the VIO market in Q2 2013.
About Experian Automotive
Experian Automotive provides information services and market intelligence that enables results-driven professionals to gain the fullest possible understanding of the market, the vehicles and the people who buy them. Its North American Vehicle DatabaseSM houses data on nearly 700 million vehicles and, when combined with Experian's credit, consumer and business information, provides an integrated perspective into the automotive marketplace. Experian Automotive's AutoCheck® vehicle history reports provide dealers and consumers with in-depth information, allowing them to confidently understand, compare and select the right vehicles. For more information on Experian Automotive and its suite of services, visit our Website at http://www.experian.com/Automotive.
Experian® is the leading global information services company, providing data and analytical tools to clients around the world. The Group helps businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making. Experian also helps individuals to check their credit report and credit score, and protect against identity theft.
Experian plc is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. Total revenue for the year ended March 31, 2013, was US$4.7 billion. Experian employs approximately 17,000 people in 40 countries and has its corporate headquarters in Dublin, Ireland, with operational headquarters in Nottingham, UK; California, US; and Sao Paulo, Brazil.
For more information, visit http://www.experianplc.com.
Experian and the Experian marks used herein are service marks or registered trademarks of Experian Information Solutions, Inc. Other product and company names mentioned herein are the property of their respective owners.
SOURCE Experian Automotive
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