By Christopher Harper
I bought my last new car the day after the Philadelphia Phillies won the World Series.
For those not Philadelphia fans or baseball enthusiasts, that was 16 years ago.
Today, my Saturn Aura is no longer being made. The electronic gauges have mostly failed, and I’ve had to search for competent mechanics to keep the old car running.
A recent Wall Street Journal article confirmed that I was not alone in my lack of desire to buy a new car.
“It’s not just the political class. America’s fleet of cars and trucks is also getting long in the tooth. Last month a study by S&P Global Mobility reported the average age of vehicles in the U.S. was 12.6 years, up more than 14 months since 2014. Singling out passenger cars, the number jumps to a geriatric 14 years,” Dan Neil wrote recently.
“In the past, the average-age statistic was taken as a sign of transportation’s burden on household budgets. Those burdens remain near all-time highs. The average transaction price of a new vehicle is currently hovering around $47,000. While inflation and interest rates are backing away from recent highs, insurance premiums have soared by double digits in the past year,” Neil added.
Moreover, Neil reported that many buyers don’t like designs that include more technology, particularly electric vehicles. “But lately another, stranger element is showing up in the numbers: a motivated belief among consumers that automakers’ latest and greatest offerings—whether powered by gasoline, batteries or a hybrid system—are inferior to the products they are replacing,” Neil wrote. “I cast a wide net on social media last month, posing this question: Name a new car/truck/SUV that is not as desirable as the design it replaces. I got back a long and distinguished list, a roll call of the compromised: Toyota Land Cruiser; Mini Cooper; Ford Mustang; Toyota Crown (née Avalon); Ford F-150; just about every model of BMW you can think of.”


