Median Age of U.S. Cars and Light Trucks Increases

    DETROIT, Feb. 11 -- For the first time since the mid-1990s,
automotive registration data reveal that Americans are keeping older vehicles
on the road for longer periods.
    R. L. Polk & Co., the industry's premier automotive solutions provider,
today announced that the median age of cars and light trucks in operation
increased for the first time since 1996.  Light trucks experienced an increase
in median age of 8 percent, the largest single year increase since Polk's
light truck report started in 1993.  Similarly, the median age for cars
increased more than 4 percent, marking the largest percentage increase since
1993 and the fourth largest single year increase in the last 33 years.

             MEDIAN AGE OF U.S. VEHICLES
    Year    Cars    Light Trucks*    All Trucks**
    1993    7.3          7.1             7.5
    1994    7.5          7.2             7.5
    1995    7.7          7.4             7.6
    1996    7.9          7.5             7.7
    1997    8.1          7.3             7.8
    1998    8.3          7.1             7.6
    1999    8.3          6.9             7.2
    2000    8.3          6.7             6.9
    2001    8.1          6.1             6.8
    2002    8.4          6.6             6.8

    Source: R. L. Polk & Co.; *GVW 1-3; **GVW 1-8; # as of 7/1 for each year

    According to Polk, the trend of declining median age was reversed this
year due to lower scrappage rates of older vehicles and only a 1 percent
increase in new vehicles registered during the report year (July through
June).
    There was a 6 percent overall decrease in the number of vehicles scrapped
in 2002.  This was primarily driven by the second lowest rate in the last 53
years among passenger cars.

            VEHICLE SCRAPPAGE RATES
    Year    Cars    Trucks*    All Vehicles
    1970    9.5%     5.0%          8.7%
    1980    8.1%     5.1%          7.4%
    1990    7.2%     4.1%          6.3%
    1995    6.1%     4.4%          5.5%
    2000    6.4%     7.5%          6.8%
    2002    5.6%     7.0%          6.1%

    Source: R. L. Polk & Co.; *GVW 1-8; # as of 7/1 for each year

    "The 2002 median car age of 8.4 years represents the highest median age
since we began tracking the statistic in 1970," said Mike Gingell, vice
president of Polk's aftermarket team.  "The median age for light trucks is
still significantly lower than cars due to the recent boom in new truck
registrations over the last few years."
    "Advances in vehicle quality and engine technology have allowed American
car owners to keep their vehicles on the road longer," said Eric Papacek, an
analytic consultant at Polk, in response to the decline in scrappage rates
among passenger cars.  "Better overall quality is apparent throughout the
passenger car segment -- from luxury cars to economy cars.  This represents a
double-edged sword for auto manufacturers in that better cars allow consumers
to stay out of the market for longer periods, especially in response to a soft
economy."

    About R. L. Polk & Co.
    Polk has served the automotive industry for more than 80 years and is the
longest standing curator of automobile records in the United States.  Founded
in Detroit in 1870, Polk launched its motor vehicle statistical operations in
1922 when the first car registration reports were published.  The company now
provides automotive solutions to nearly every segment of the motor vehicle
industry as an analytical consultant and statistician, as a provider of
database-marketing services, and as a supplier of vehicle histories.
    Based in Southfield, Mich., Polk is a privately held global firm,
currently operating in Australia, Brazil, Canada, France, Germany, Japan, the
Netherlands, Mexico, Spain, the United Kingdom and the United States.