Average US vehicle age hits record 12.6 years; new cars cost $45,000

DETROIT, Michigan: The average age of American cars has reached a record 12.6 years due to the high price of new cars, according to industry observers.

The information was released this week by S&P Global Mobility, a company which compiles data throughout the United States regarding vehicle registrations.

The company also said that the age of autos increased by two months over last year's record number.