How much has been added to a vehicle’s life expectancy?

Vehicles are far more durable today thanks to improved manufacturing techniques, advanced technology, electronic component replacement of mechanical parts and corrosion-resistant body parts.

As a result, Lang Marketing reported that vehicles have likely had at least five years added to their life expectancy over the last two decades.

It pointed out that vehicle scrappage remains moderate.

“The growing number of vehicles 12 years and older should have driven scrappage rates higher, but this has not materialized,” Lang reported.

Part of that is because people are choosing not to dump their older vehicles. With higher prices of new vehicles (up 40 per cent in the last seven years) and a 35 per cent increase in used vehicle prices over the same time, consumers are keeping their vehicles longer.

“Both developments have put downward pressure on the scrappage rates of older vehicles,” Lang said.

Vehicle life and scrappage have moved in opposite directions, it observed.

“The number of years that vehicles remain on the road has increased, and scrappage has been lower than expected, given the expanding population of older vehicles in operation,” Lang’s report, Vehicle Life & Scrappage Boost Aftermarket, said.

Longer vehicle life is also helping keep average vehicle age on the increase.

“Since older vehicles use more aftermarket parts per mile than newer models, these developments helped the rate of aftermarket product volume to grow faster than the total increase in miles driven during this period,” Lang said.

It also noted that virtually all vehicles five years and older are internal combustion engine ones.

“As vehicles remain in operation longer and the number of older vehicles increases, the size and growth of the ICE vehicle aftermarket will benefit significantly,” Lang said, adding that the ICE aftermarket will remain strong through the end of the decade.

However, having more older vehicles has a downside, impacting inventory demands and parts proliferation.

“The growth of older vehicles in operation will increase the need for aftermarket distribution channels to carry vehicle parts for more years than historically has been necessary,” Lang reported. “This will expand the problems of parts proliferation and inventory management demands at all levels of the car and light truck aftermarket.”