The average transaction price for a new vehicle in the United States hit an all-time high of $47,077 in December, according to Kelley Blue Book. The increase in car prices is largely due to the disruption in the global supply chain for vehicle parts, especially computer chips. But even without this pandemic-related disruption, new vehicle prices trend upward over time for various reasons. (In today’s auto market, even used car prices are rising, here are 15 cars that cost more used than new.)
Dealers have few cars, even on their used car lots. The shortage has worked its way even further into the industry, and owners who happen to drive long-lasting cars are no doubt happy they can postpone car purchases. The longest-lasting car on the road is the Toyota Land Cruiser.
Rising prices and increased durability have led to older cars on the road. The average age of a vehicle in the U.S. rose to 12.1 years last year, up from 9.6 years in 2002, according to IHS Markit. Now, more vehicles than ever are lasting to 200,000 miles and beyond, blowing past the 100,000-mile mark that not too long ago was considered about the most you could get from a typical car.
A recent analysis of more than 14.9 million cars sold in 2021 by online automotive information and sales provider iSeeCars has identified the models with the largest share of vehicles that top 200,000 miles.
To find the 15 longest-lasting car on the road 24/7 Wall St. reviewed the iSeeCars analysis. Cars are ranked by the percentage of vehicles reaching 200,000 miles. Prices noted are based on the entry-level manufacturer’s suggested retail price, rounded to the nearest $1,000, for a 2022 model year vehicle, as reported by Car and Driver magazine.
Toyota manufactures eight of the top 15 longest-lasting cars, and only two sedans — the Toyota Avalon and the Toyota Prius — made the list. Seven of the 15 longest-lasting vehicles are full-size SUVs, while one is a midsize SUV and one a crossover — a popular small SUV that is typically built on a sedan platform. Two of the vehicles on the list are minivans, and two are pickup trucks.
The longest-lasting car on the road is the Toyota Land Cruiser with 18.2% of the cars reaching over 200,000 miles.
The $87,000 Land Cruiser has by far the highest entry-level price of the vehicles on this list, but with that extra money, buyers can get a large SUV that handles well off-road with an acceptable (if not industry-leading) luxury interior. Like other vehicles in its class, its fuel economy is dismal at just 14 miles per gallon. (These, one the other hand, are cars from five years ago that get the best gas mileage.)
Click here to see longest lasting cars on the road
Sponsored: Find a Qualified Financial Advisor:
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.
Source: Read Full Article