A survey report submitted by Experian Automotive finds that more and more U.S. car owners are holding on to older cars instead of buying new ones from showrooms.
According to the report, the number of old vehicles in the U.S. has seen a rise in the last few years and has reached 17 million since 2009. There are more than 17.3 million cars, seven years or older on the road.
Experian Automotive, in its quarterly 2012 Vehicles in Operation analysis, reports that more than 245 million vehicles are in operation across the country.
The report not only reveals the increase in the number of older vehicles being driven around the U.S., but also sheds light on the average age of vehicles, which has also gone up by 11 years when compared to last quarter.
Auto experts believe the increase in the numbers may be due to shaky economy, which may have pushed people to opt for used cars instead of investing in new cars.
Additional details in the report reveal that the most popular among the dozens of automakers in the U.S. are Ford, Chevrolet, Toyota and Honda.
The report states: "The tally comes from evaluating the vehicles in operation on both U.S. and Canadian roads, and when narrowing it down to the models, the Ford F-150 ruled the road, followed by the Honda Accord, Toyota Camry and Chevrolet Silverado."
With most Americans choosing to keep their old cars, automakers have stepped up their efforts by introducing a number of hybrids and electric cars to the market. Both hybrid and electric vehicles represent only 0.9 percent of all vehicles in operation.
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