(RICHMOND HILL, ON) – Advancements in technology greatly influence how a vehicle operates, is produced, and how long it can last. With the push for quality in recent decades, from vehicle and parts companies, vehicles are lasting longer than they ever have.
In the year 2000 only 33.7 per cent of vehicles survived 15 years of ownership, while 54.0 per cent survive the same period of ownership today.
In this month’s Observations we discuss survival rates: the comparison between the number of vehicles initially sold to the ones still on the road today. With help from the registration database at iHS Automotive and our own records we discuss how these longer lasting vehicles are changing the landscape of the automotive industry.
Topics of discussion include changes to the aftermarket, changes to financing, and changes to consumer behaviour, amongst others.
DAC offers regular coverage and discussion of topics related to new vehicle sales, vehicle ownership trends and other topics of relevance to Canadian automotive sector participants in our DesRosiers Automotive Reports and AutoWatch newsletters.