Tag

Us Vehicle Market

All articles tagged with #us vehicle market

"Americans Keep Cars Longer as Average Vehicle Age Hits Record 12.6 Years"

Originally Published 1 year ago — by WKRC TV Cincinnati

The average age of vehicles in the U.S. has reached a record 12.6 years in 2024, driven by high new vehicle prices, which averaged over $45,000 last month. While new vehicle sales are recovering from pandemic-related shortages, many consumers are opting to keep their older vehicles longer due to cost concerns and the durability of modern cars. This trend benefits auto repair shops as a significant portion of vehicles are now beyond manufacturer warranties.

business automotive-industry automotive-industry average-price new-vehicle-sales sandp-global-mobility us-vehicle-market vehicle-age

The Rise of Chinese Electric Cars and the Future of the Auto Industry.

Originally Published 2 years ago — by Business Insider

Chinese electric car manufacturers are poised to enter the US market with their affordable and high-quality electric cars, following their success in China and Europe. However, political tensions between China and the US may pose a challenge for Chinese brands. Chinese EV manufacturers can gain a foothold in the US by coming in at a budget price point, analysts said. The carmakers most likely to break through first will be those that already have a global presence, such as Geely and BYD.

business business affordability business chinese-electric-cars competition political-tensions us-vehicle-market