2023-06-11 13:15:03
News JVTech The average age of electric cars is 3.6 years. It makes sense and it has nothing to do with reliability
The electric car is becoming the norm on the roads around the world. And if manufacturers are doubling their inventiveness to offer ever more competitive models, a study has just revealed that the average age of these was clearly not at the level of other vehicles.
Electric cars are on the rise
S&P Global has just published a study on the age of the American mobile fleet which reveals a curious idea: until now, electric cars are less old than the others. The average age of light vehicles is 12.5 years, while that of battery electric vehicles (BEV) is more than three times lower, at only 3.6 years. Overall, the trend shows that cars and light trucks have aged, while the BEV fleet has become younger. To be more precise, the former saw their average age increase by three months compared to 2022, while the latter, electric vehicles, saw theirs drop by one month (3.7 in 2022, compared to 3.6 Today).
Photo credit: S&P Global
The reason for these fluctuations is not complex. Statista tables show thatin 2016, barely 80,000 electric vehicles were sold in the United States, while 790,000 BEVs were registered last year. And the site specializing in statistics even indicates that this trend might continue over the next few years, reaching 2.1 million sales in 2028. As new electric vehicles hit the road, they are compressing the average age of the national park, which since 2017 has hovered between three and four years. S&P Global estimates show that new BEV registrations have increased by 58% year over year to reach 758,000 units in 2022.
What regarding vehicles with a combustion engine?
If we expand the scope and cover the most 284 million vehicles on American roads – including of course the great fleet vehicles with combustion engines – the picture is different. In this case, the average age of the fleet has increased consecutively over the past six years and the data now reflects the steepest age increase since the 2008 recession.
Photo credit: S&P Global
“In 2022, the median age has seen upward pressure due to supply constraints due to low new vehicle inventory levels and certainly slowing demand as interest rates and inflation have reduced consumer demand for new vehicles in the second half of the year »says the report, which shows an 8% drop in retail sales and light vehicle fleets.
Several postulates explain these inclinations. The first is the market trend of combustion vehicles, which according Bloomberg peaked in 2017 and is now facing a “structural decline”. The second is the discreet weight that electric vehicles still have in the calculation of sales. According to Argonne National Laboratory, in April 2023, 105,438 plug-in hybrid vehicles (PEV) were sold. And the sum of BEVs and rechargeables: displayed 49.7% more than in the same month in 2022. However, in practice, this means that PEVs (Plug-in electric vehicles) capture 7.83% of total light vehicle sales.
Photo credit: ACEA
The S&P Global study is interesting because it compares the age of BEVs and the fleet as a whole, but it is not the only one that provides interesting data. Another relevant report that helps to complete it is that of theTHATthe European Association of Automobile Manufacturers, which published in May a report accurate on the average age of passenger cars, vans, trucks and buses with recent data (2021). In conclusion is that EU cars have an average age of 12 years, an even higher average in Greece and Estonia, where the fleet is around 17 years old. At the opposite pole is Luxembourg, where passenger cars are around 7.6 years old on average.
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