In 2023, the average age of light trucks in operation in the U.S. stood at approximately 12.6 years. From this baseline, the forecast indicates a gradual increase, with the average age projected to rise to 13.2 years by 2028. This represents an average annual growth rate (CAGR) of about 0.9% over the forecast period from 2024 to 2028.

Key trends and considerations for the future include:

The aging vehicle fleet suggests consumers may hold onto vehicles longer, potentially influenced by economic conditions or improvements in vehicle durability and maintenance practices.
Environmental regulations and advances in technology could drive shifts in the demand for newer, more efficient vehicles.
Market dynamics such as fuel prices, economic growth, and changes in consumer preferences should be monitored as they can impact the longevity and turnover rate of the light truck segment.