BROADER TRENDS: Drivers keeping their cars

The average length of ownership of new vehicles has risen to a record 71.4 months or nearly six years, according to market research firm Polk. The average length of ownership for used vehicles is 49.9 months. Combined, new and used vehicle owners are holding on to their vehicles for an average of 57 months, a length of time that has increased 23 percent since 2008.
While this isn’t great news for auto retailers, it is good for those who help keep those vehicles looking and running at their best.