Americans Are Keeping Their Cars Longer, Benefiting Service Shops and Parts Makers

The number of vehicles in operation hit a record in the U.S. as the average lifespan of cars and trucks continues to get longer, giving a boost to service providers and parts makers working to keep drivers on the road.
The average age of cars and light trucks hit 11.6 years old, according to IHS Markit. The firm, which collects vehicle-registration data, estimates 264 million light vehicles are in operation.