America's car fleet hits new old age record

Despite booming sales of new vehicles in the past year, the average age of America's auto fleet has hit another record.

The average age of all cars and trucks now stands at 11.4 years, up from 11.2 years last year, says research firm Polk. A decade ago it was 9.7 years.

Drivers put off buying new cars during the recession, nursing their jalopies through to better times. But in the last year, they have returned to showrooms in droves not only to buy cars likely to last them longer, but to trade in for models that will get better gas mileage.

While the number of vehicles between 6 and 11 years decreased, it was offset by an increase in the number of vehicles older than 12 years.

"People are simply hanging on to their vehicles," says Mark Seng, vice president of Polk's aftermarket practice. With cars not rusting out as they did in the past, and engines and overall quality better, they just keep running them.

New-car sales are on track this year to come close, maybe even top, 16 million for the first time since 2007. Auto sales bottomed in 2009 at 10.4 million, according to Autodata.

Even with activity in new-car showrooms, Seng says there's every reason to believe those aging jalopies will still be running down highways.

"We don't necessarily see it declining," he says of the rate. It could slow further, but people who drive old cars seem hellbent on sticking by them.