CONSUMERS PUTTING OFF NEW CAR PURCHASES

  

The average age of vehicles in the U.S has risen, with consumers putting off new purchases of vehicles despite the end of the last recession.

The average vehicle in the U.S. is now a record 11.5 years old, according to consulting firm IHS Automotive, a sign of the increased reliability of today's vehicles .

Despite new technology in newer vehicles and more reliable vehicles, drivers are opting to keep their cars longer, with the length of ownership of a new vehicle now being around 6 ½ years, and a used vehicle, around 5 years.

The average age of vehicles has been climbing steadily since IHS began tracking the number in 2002.

Experts say there's no rule for how long to hold on to an old car or truck. A car with good reliability can go for 200,000 miles or more, which can easily last a decade for some motorists, says Doug Love, a spokesman for Consumer Reports.

The two features still recommended for older vehicles is an electronic stability control and side curtain air bags.

There is concern that Americans will be slow to adapt to safety and other features, such as CarPlay, which gives drivers access to their apps through the dashboard

Even though the average vehicle age shows no sign of reversing, it is starting to plateau, since buyers have returned to the car market in big numbers. Sales of new cars rose from 12.7 million in 2011 to 16.5 million last year and are expected to reach or exceed 17 million this year. IHS thinks the average vehicle age will hit 11.6 years in 2016 but won't climb to 11.7 years until 2018.

The age of vehicles had a large increase between 2008 and 2013, with the average age of cars and trucks being 10 years, and by 2013, it was 11.4 years.