Americans keeping old cars longer

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carsSOUTHFIELD, MI – It looks like Americans are keeping their Ferraris longer, and their Toyotas, Fords and Chevys too. An industry report says the average age of the 247 million cars and trucks across the nation hit a record of 11.4 years in January, despite the increase in car sales.

This survey probably skipped Miami Beach and L.A., where even folks who live on food stamps drive the latest convertible. Well, sort of. The Polk research firm identified the two main reasons why this is happening: the quality of cars is better and people are trying to avoid those dreaded monthly payments.

Repair shops and the auto-parts industry are excited about this trend.  Of course!  They’re like couples therapists who always suggest you two stick together at any cost.  But let’s face it: now that new cars are looking more and more like space ships, it might become difficult to brag about your “collectible”.