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Hagerty
Hagerty Employee

2023 BMW M3 cosplays in retro shades, 4Runner dons '70s chic for 40th, average age of U.S. vehicles rises

North America only: BMW revives '90s, 2000s M3 colors for M's 50th Intake: Today marks 50 years since executives signed the paperwork to make BMW Motorsports GmbH an official reality. Though it's been blaring the 50th anniversary trumpets since the year started with a raft of goodies such as the M4 CSL which arrived last week, [...]
https://www.hagerty.com/media/news/the-manifold/2022-05-24/
14 REPLIES 14
Snailish
Instructor

Vehicle pricing has not matched inflation (until perhaps recently). Yes there are a few options (air bags, back up cameras) that add cost vs. your 1980 vehicle, but the simple truth is vehicles cost more so some of us have to run older daily drivers.

Besides, it is income vs. the cost that is the lost ground moreso than just applying the inflation rate to currency.
hyperv6
Racer

The killer is income has not kept pace with auto costs.  Much has played into this. Cost of materials, cost of labor, Cost of technology, cost of raw materials. all add up. 

 

Back in the 60's it was possible for a high school kid with a decent after school job to buy a new car. Today it is a dream for many of any age to buy a new car. 

 

My father had a 56 Ford and a 57 Ford. He got married and bought a house in 59 and then when the battery died in his Ford he walked to the Pontiac Dealer next to the store and bought a new Pontiac over a battery. 

 

I recall growing up we had a new car nearly every year. But then the 70's arrived and the major killer was the regulations. Be it emissions, mileage and and crash standards added substantial costs to the new cars and it has all led to a decline in the American new car market. 

 

People complain why do all the automakers pay attention to China? It is the only market with much growth. In fact a number of companies would be gone if it has  not been for sales in China even if they have to split the sales with government MFGs. 

 

We do have advantages today as high miles and rust are not like they once were. That 57 Ford my father traded in with the dead battery had a hole rusted through the floor in 3 years.   So today even with the higher cost we have made some gains to where we can get more value from some cars today vs the past. 

 

My uncle just traded off a S10 he bought new with 300,000 plus miles that he paid $9,999 for back when it was new. Water pump, brakes and one clutch and some tires was all it needed. 

Gary_Bechtold
Specialist

I like the colors from BMW but I'll never get over the mole-rat front styling. Plus the wall of screens inside is a no go for me.

I like the 4Runner package. Looks pretty Rad! :^)

Average age of vehicles is up due to quality and also due to prices. The average car price is quite a bit up in the last few years. As rates climb up people are going to feel more of a pinch. For those wanting an EV there is news that the cost of the batteries is also going up so the EV is going to be going up just on battery cost alone a few grand. At some point something has to give.
TinaBird
Intermediate Driver

Of my 6-vehicle fleet, I just calculated my average vehicle age at 40.59 years! The '31 Model A doesn't help my average nor the fact that my newest car is 11 years old (an E90 BMW, their last great chassis in my opinion).
But to be honest, I don't drive older cars due to any cost savings; I just truly enjoy older cars more and I have yet to see a car built in the last 5-10 years that would convince me to buy newer. I'll keep my E90 BMW and 3rd Gen 4Runner on the road as daily drivers for as long as I possibly can.
Bratpane
Pit Crew

It's easy. Cars age better than light trucks, that all rust to complete junk in about 8 years. Cars are able to last much longer without **bleep** making sure a 10 year old car can stop.
Bratpane
Pit Crew

Well I don't know why half of my post got replaced by a bleep. It wasn't a string of bad language. Please delete, as it doesn't make sense now.
Gary_Bechtold
Specialist

The bleep thing has been happening for a few days.  Just curious what word was it?  Try typing it l i k e t h i s with spaces.

Sajeev
Community Manager

Kinda doesn't matter which bleeping word it was, because it doesn't matter the bleep because the system has gone bleeping hayware for bleeps bleeps bleeps as far as I can tell. 

erne75
Advanced Driver

The worst part is that they are doing it to "protect" us. In this **bleep**ing upside down world this kind of **bleep** should **bleep** off...
erne75
Advanced Driver

LOL, it is gone haywyre for sure. Talking about freedom of speech got bleeped...The Irony...
JohninNC
Instructor

The graphics on the special edition 4runner are boring, and they have many versions to pick from in their past. Oh well. And age of vehicles, I'm right there- 2011 4runner!
Speaking of income/ costs/ inflation. I remember back in the day you could get a car about at 1/2 price- 3-4 years old, 50,000 or so miles. Not anymore.
bradfa
Advanced Driver

Autozone market cap is $37B. Tesla market cap is $650B. Stock price does not make a company valuable. But Autozone is up 210% in the past 5 years with a P/E of 17, which *IS* mighty impressive (Tesla is up 865% in the past 5 years, but have a P/E even after the recent downturn in price of 85 which is very "growth stock" territory).
Sajeev
Community Manager

Very good point, which is something we considered adding, but The Manifold needs to be as short and sweet as possible. We just really wanted to show that old cars are growing in demand for a reason, and the growth of Autozone proves it (perhaps not even mentioning Tesla would have helped that.) 

erne75
Advanced Driver

50 years is a long time. Half a century to be more precise. Aging takes a toll on the looks department. Just ask any woman. I just hope that I'm not as ugly as this bimmer when I turn 50. Damn that car is ugly!!!