Do You Really Need a New Car?
Bill Vlasic delivers some interesting statistics in today's New York Times, about the automobile market and American buying habits. In 2006, "[m]ore than 244 million vehicles were in operation …, outnumbering the 202 million licensed drivers in the country, according to … federal statistics."
In addition, Vlasic reports that in 1988 Americans kept their new cars for an average of 4.1 years, while today (or at least until the past six months) they traded them in every 2.9 years. Ironically, the quality of cars has increased significantly enough so that a new car will be serviceable for ten years or more. According to Vlasic "the typical vehicle on the road is nine years old, according to federal statistics."
Bill Vlasic delivers some interesting statistics in today's New York Times, about the automobile market and American buying habits. In 2006, "[m]ore than 244 million vehicles were in operation …, outnumbering the 202 million licensed drivers in the country, according to … federal statistics."
In addition, Vlasic reports that in 1988 Americans kept their new cars for an average of 4.1 years, while today (or at least until the past six months) they traded them in every 2.9 years. Ironically, the quality of cars has increased significantly enough so that a new car will be serviceable for ten years or more. According to Vlasic "the typical vehicle on the road is nine years old, according to federal statistics."
Labels: The Economy
posted by Jim | 11:19 AM
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