All created things follow a cycle. Take us, for example; we are born, go through school, work and then retire. Even cars and trucks, the canvases of our industry, have a lifecycle we can track. A vehicle is manufactured, sold at a dealer, spends its golden years as a daily driver and then retires as a classic or scrap. This timespan varies depending on the vehicle class. It increases over time, but lately, the average U.S. vehicle lifecycle has been growing slightly faster. SEMA Market Research sought to learn why and came back with the “2024 Vehicle Lifecycles Report.”
Gavin Knapp, SEMA director of market research, went into this research to verify the causes of an aging vehicle population and how they might affect the automotive aftermarket industry. When asked…