Average vehicle age rises, consumers buy used, delay new car purchases.

Over the past decade, the average age of vehicles in U.S. households has risen to nearly 11 years old as buyers turn to the used car market or delay purchases of new vehicles.

Last month, new vehicle sales declined to a seasonally adjusted rate of sales of 16.7 million vehicles after maintaining a rate of more than 17 million vehicles over the past four consecutive months, according to J.D. Power Valuation Services. Also , the average new vehicle price rose $985, or 2.9%, to $35,359, from the same month in 2017, and analysts for Kelley Blue Book, expect new vehicle prices to continue to rise as the average days of vehicle inventory has started to fall for the first time this decade.

The average vehicle age is 10 years for the buy here, pay here used car dealer, and dealers expects the average age of vehicles in U.S. households to continue to rise as vehicle quality improves.

“Not that many years ago 100,000 miles was considered high mileage and end-of-life, but now there is a lot of life left in the car,” reported the Suffolk dealer.

While prices increased , consumer demand for new cars declined. The daily selling rate for cars fell 13.8%, from last year, while the rate for trucks increased 8.5% and accounted for 69.5% of the total market, a record high, according to J.D. Power Valuation Services. The market share for trucks might surpass 70% by the end of the year.

Between 2009 and 2017, the average age of vehicles in U.S. households has risen from 9.3 years to 10.5 years, according to the 2017 National Household Travel Survey. This suggests that many households have delayed buying a new vehicle or purchased a used vehicle and the continuation of a trend that households are operating vehicles longer. The trend includes all vehicle types, especially pickups, vans and sport utility vehicles, and could have implications on fuel consumption because newer vehicles tend to have better fuel economies.

In 2018, used vehicle prices are expected to rise 1%, according to J.D. Power Valuation Services. Factors that could hurt the used vehicle market include new vehicle incentives, increased used vehicle supply, decreasing credit conditions and rising gasoline prices. Automakers increased incentive spending for the 40th consecutive month in July to $3,776 per vehicle, from $3,640 in July 2017, according to Autodata.