America, a country that drives pretty old cars for a while now, plays a significant change on how we now view car ownership.
Before, maybe ten or 15 years ago, there wasn't that much of a difference between a new car and one that was a decade old. Market observers had been expecting that tons of older cars would soon be snubbed and left aside due to the unending advancement of technology. The different features of today's vehicles such as driver-assist technology and even self-driving features makes them more favorable than that of the older models.
However, it seems that the great need for an affordable mobility appears to have overshadowed that expectation because if we were all to be honest with ourselves, a car that's a decade old was probably still designed and engineered well enough to even make it on a racing game, if it's been well taken care of.
The demand for drivers in the US auto market isn't about to go away anytime soon due to the fact that older vehicles will also be replaced eventually. It's been a trend that has bolstered the sales boom, leading to a staggering figure of 17.5 million new vehicles rolling off of dealer lots each year. Business Insider reported.
Analysts and auto executives thought that as old cars were replaced, the average age would decline and the market would be left with easy credit and cheap gas as the core factors encouraging consumers to buy new vehicles. However, it looks like those factors that have propelled sales in the past will continue to keep them going in the future.
According to Yahoo, what that means is that even if we see a predictable, cyclical sales downturn in the US in the next two years, it might not be all that precipitous.