Today the average new car or light truck in America costs nearly $34,000, and vehicle sales are at a 10-year high. At the same time, our average car or truck is now more than 11 years old. We can mine these factoids for all sorts of conclusions — cars are holding up longer, cheap gas is again fueling SUV and pickup sales, etc. — but here’s what strikes me: If our average car age is 11, this means that for every new one that’s proudly brought home, there has [...]
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