Average Age of Vehicles
The average age of vehicles on the road today keeps on climbing. The average vehicle age is now 11 point 9 years. That represents a 24 percent increase over the age in 2002, when the average was 9 point 6 years.
IHS Markit, who conducted the analysis, says affordability, length of loans, and vehicle quality all factor into why people are keeping their vehicles longer.
Ford or Chevy? BMW or Mercedes?
When it comes to vehicle brands, we’ve all got a soft spot….and wooing a buyer to the other side is becoming harder and harder.
For their US automotive brand loyalty study, JD Power looked at whether an owner purchased the same brand after trading in or buying a new vehicle.
For the second year in a row, Lexus came out on top for luxury brands, with a 48 percent loyalty rate. Subaru ranks highest among mass market brands with a loyalty rate of 60 and a half percent.
Thousands of fast charging stations are coming to cities and suburbs across the country. General Motors and EV-GO have teamed up to install more than 27 hundred fast charging stations over the next 5 years.
GM says the stations will be in highly visible areas and most will be able to charge four vehicles at a time.
The stations will also feature new charging technology with 100 to 350 kilowatt capabilities to meet the needs of increasingly powerful EV’s.
The new EV-GO fast charging stations will begin to roll out in early 2021. And that does it for this week’s Motor News!