Fewer of us are getting our cars repaired this year, but the repairs we order are getting more and more expensive. With new car and gas prices near historic highs, more and more Americans are rolling their old cars, no matter what.
The average car on American roads is now over 12 years old.
The data comes from XTime, a software used by many dealerships to guide the service process. XTime is a product of Kelley Blue Book’s parent company, Cox Automotive.
XTime metrics show that in February dealerships saw 1.6% fewer cars arriving for repair than in January. Repair volume declined at the onset of the global COVID-19 pandemic and never returned to pre-pandemic numbers.
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But, while the volume of repair orders has decreased, the severity of issues requiring repair has increased. The average repair in February cost $501 – the highest since data collection began three years ago.
Both new and used car prices have skyrocketed throughout 2021. Although they have started to decline, they remain near historic highs. The average new car sold for $46,085 in February, nearly $5,000 more than a year earlier. The average used car sold for $27,608 in February.
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This story originally took place on KBB.com.