That new car smell … the pristine interior … that look of envy on your neighbor’s face. There’s nothing quite like rolling a brand new set of wheels off the lot and into your garage. That’s why it comes as a bit of shock that Americans are partaking in this ritual less and less. According to a 2015 report from IHS Automotive, the average age of a car in the U.S. has reached an all-time high of 11.5 years old. In 1995, that figure was 8.4 years old. What’s going on, America? Why are we holding onto our old cars for longer than ever before? Apart from the sluggish economy of recent years, which has generally reduced personal expenditure, our vehicles’ longevity is also likely due to modern engineering and therefore greater reliability. Enhanced technology in the automobile industry has improved performance and increased the lifespan of vehicles, reducing the necessity of Americans to invest in a new car. One contributing factor may be some Americans’ diminishing interest in driving. A study from the University of Michigan shows that Americans under age 25 are far less likely to get their driver’s license than in previous years. Currently,  77% of people between the ages of 20 and 24 hold a driver’s license compared to 80% in 2011 and 92% in 1983. Furthermore, under a quarter of 16-year-olds currently hold a driver’s license, compared to 46% in 1983. This decrease in licenses for younger Americans could be due their growing migration to larger cities where public transportation is more available, concern for the environment, or the rise of ride-sharing services such as Uber and Lyft. As Americans are keeping their cars longer, there has been a noticeable boom in business for auto repair shops. Instead of getting rid of faulty cars, Americans are spending more money on the up-keep of their current automobiles. Auto repair shops saw nearly 7% year-over-year sales growth during 2014. IHS expects this trend to continue, forecasting an average car age of 11.6 by the end of the year, but not reaching 11.7 until 2018. Do you have a particularly old and reliable car? Leave a comment below. Sources: http://press.ihs.com/press-release/automotive/average-age-light-vehicles-us-rises-slightly-2015-115-years-ihs-reports http://www.wsj.com/articles/driving-losing-its-allure-for-more-americans-1453285801 http://www.inc.com/sageworks/why-business-is-booming-for-auto-repair-entrepreneurs.html Guest contributor James Martin writes for retale.com a global network for location-based shopping information.