Tech
Why The American Car Fleet Is Getting So Old
In 2021, the average age of vehicles on the road reached a record 12.1 years. Every driver that chooses to hold on to a car for another year is postponing a trip to the dealership, and some industry analysts wonder if rising vehicle ages and prices indicate trouble for new car sales in the future. Automakers are stuffing cars with new technology and improvements but will that be enough to keep buyers wanting the latest and greatest?
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Why The American Car Fleet Is Getting So Old
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A leak by Indian supplier Tata Electronics, purportedly of the yet-to-be-released iPhone 18 Pro models, has become marketing gold for the Chinese government. The Communist Party paper, The Global Times, is using the leak – caused by a cyberattack – as a cautionary tale for Apple and other American companies that are in the process of diversifying their supply chains away from China. CNBC’s Eunice Yoon reports.
00:58 Correction: The location tag should be Beijing, China.
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China’s Swagger After India’s iPhone 18 Leak
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Unstoppable demand for AI is leading to a capacity crunch on factory lines at the world’s leading chip manufacturer, Taiwan Semiconductor. And it could put a chokehold on AI’s ability to scale. Analysts tell CNBC that Nvidia, Apple, Broadcom, AMD and others are locked in an “extremely fierce” competition to get their GPUs, CPUs and custom AI chips made at TSMC. Capacity can’t come online fast enough, despite TSMC’s rush to build new fabs in Taiwan, Japan and Arizona, where has expanded investment to $265 billion. The strain has made one man at TSMC “the most popular person on the planet,” as chip start-ups and big name CEOs visit Taiwan to ask him for wafer allocation. It’s also created a rich opportunity for Intel, as customers look to the long-struggling foundry arm of the U.S. chip manufacturer for a second source.
Chapters:
0:00 Introduction
2:06 ‘Most popular person on the planet’
6:54 Making room for smaller players
9:10 Can new U.S. fabs ease the crunch?
Producer and Reporter: Katie Tarasov
Edited by: Matt Soto, Andrew Evers
Camera: Eddie Temborski, Robert Lampe, Evan Reinhardt
Senior Director of Video: Jeniece Pettitt
Animation: Jason Reginato, Emily Park
Additional Footage: Cerebras, D-Matrix, Getty Images, Intel, Nvidia, OpenAI, SpaceX, TSMC
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Why There’s An ‘Extremely Fierce’ Battle For TSMC’s Limited Chip Manufacturing Capacity
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Warner Music Group, the third-largest music label by market share, is tapping into the South Asian music movement with its latest venture.
CNBC’s Laya Neelakandan explains.
source
Micron’s hometown of Boise, Idaho has a growing crop of newly minted millionaires.
The AI-driven memory boom is showing up in the form of job growth, new construction projects, a bustling dining scene and an influx in new residents.
CNBC’s Katie Tarasov explains. Find the full report in related video.
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Half of single Americans say they are going on fewer dates or choosing less expensive activities because of rising costs, according to BMO’s 2026 survey.
But, the cost of dating itself is only part of the story. For millions of users, finding a date means paying for the apps.
Watch the full story in related video.
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@alejandrocastro3358
December 30, 2023 at 3:15 pm
I drive a 2007 Toyota Yaris with 295k miles, it’s a manual transmission. I’ve had no issues whatsoever. If it ever breaks down I’ll just buy a new engine or transmission. My insurance is cheap. I feel no urgency to replace it. Why would I go buy a new car and break my head about meeting my car payment at the end of the month. Not happening.
@MoeJae86
December 30, 2023 at 3:15 pm
New flash to Industry Analyst: You don't have to wonder if age and prices indicate trouble, just stop by a local dealer. When a brand new pickup truck runs for $100,000, you know there is a problem. When seeking a entry level 3rd row starts at 45k you KNOW THERE IS A BIG PROBLEM. So yah, I don't mind being a statistic on your (Industry Analyst) graph of why I'm not buying a new car. It's called priorities. Buying a new car isn't one of em.
@jeffreyjourdonais298
December 30, 2023 at 3:15 pm
You forgot VOLVO !
@JohnEldon-wy3bv
December 30, 2023 at 3:15 pm
We have always kept our cars as long as I trusted them and repairs were affordable. (I do much of my own work, which helps with the latter.) Current fleet is a 2001 and a 2016. We bought the 2016 four years ago to replace a 1996 which finally was killed off by a major meltdown of the electrical system, following a steadily-escalating series of electrical failures. I always try to keep my cars at least until they are 20 to 25 years old.
@asimismo6476
December 30, 2023 at 3:15 pm
Electric cars are for pu….
@islandborn1457
December 30, 2023 at 3:15 pm
6:10 yea right I’ll be visiting my garage more often
@bakoguy5330
December 30, 2023 at 3:15 pm
I was one of those that got 3 new cars every 3 to 5 years because I don’t trust mechanics, all Honda and Toyota, but after these last few years when I could buy a new items at a reasonable price I started to learn how to service and repair my own vehicles, I mean with a 2016 civic and 2019 Tacoma with a 2018 Camry, it’s really not that hard, but I’m already looking into how to rebuild the transmissions and engines. I’m not sure I’ll ever go back unless I get a 0% APR over 5 to 6 years and pay less than MSRP with all taxes and fees. I’m one person, but I believe I do make a difference. At 40 years old I’ve own over 38 new cars so yea
@angelachanelhuang1651
December 30, 2023 at 3:15 pm
Ford cars win on safety
@AshesFromAChild
December 30, 2023 at 3:15 pm
a medium income family cant afford buying a new card that often , i never had a brand new car out of the dealership , i only buy used cards, so my guess a lot of people go though this , car companies get more greedy rising prices while income stays the same, and to compensate car companies rise price again. like everything we are Fu@#$%cked in the A
@PedroHenrique-iv9sp
December 30, 2023 at 3:15 pm
Well i went for a expedition 2007 w 204k miles driving like new to a new mazda thinking it would give me not mechanical issues hahaha what a shame on my self, with 61k miles i had to replace the engine
@KevinNguyen-zn4vv
December 30, 2023 at 3:15 pm
Middle East terrorist groups use Toyota's for a reason. 🙁
@TheDavidlloydjones
December 30, 2023 at 3:15 pm
More people "postpone my trip to the dealership" and "families are buying more cars each on the average" are two claims that contradict each other.
Fire the writer. Hire some copy editors.
@drewsfoodforest_tv
December 30, 2023 at 3:15 pm
Fix your old car is the best choice I can tell you. Buying a new car will cost you monthly payments and a nightmare to fix it when it breaks down. New cars are so hard to fix.
Even mechanics are afraid of fixing new
cars. Too much technology = too many
problems
@BlakeHenson-zx8ce
December 30, 2023 at 3:15 pm
Meanwhile dad's 1975 truck
I will last till the end of time!
@javierjavier7291
December 30, 2023 at 3:15 pm
When I buy and fully pay for a whole car I DO NOT WANT TO HAVE TO PAY SUBSCRIPTIONS to use options that are already on MY paid car!!!
@zeke5491
December 30, 2023 at 3:15 pm
Due to the price of a new car, we will soon look like Cuba😅
@teams3345
December 30, 2023 at 3:15 pm
They will get older because of Bidenomics.
@WalkerOne
December 30, 2023 at 3:15 pm
2 of my three cars have more than 200,000 miles and both are not even close to being done.
@erickim3710
December 30, 2023 at 3:15 pm
These dealers will eat you alive. The markups are crazy, and there are always hidden fees. It’s so hard for Americans to get new cars
@ethansmith7772
December 30, 2023 at 3:15 pm
Can they stop adding thing that break in 5 year to justify the increased cost.
@emptyfish8992
December 30, 2023 at 3:15 pm
How about a lack of trust in the system that sells the cars ie the dealerships. Not to mention the tech can and does spy on you and will call the fbi on you now if you link your phone to it and happen to have sent a text message the fbi says is suspicious. The tech is amazing in new cars but our products just have too many unwanted features imposed on us by sells and law. Someone should find a way to make a great car that does nothing but what we need and want. Instead its a product designed for the safety of the producer and regulators. Make your own cars ppl.
@jamesp8459
December 30, 2023 at 3:15 pm
I have a 20 year-old Cavalier with 200k miles on it and plan to drive it until it hits 300k or more. My 10 year-old car only has 60k on it. I don't see myself buying a car for decades, absolute waste of money, I'd rather invest it. Someday I'll probably get an EV but I'm waiting for the range to be extended, reliability to increase and price to drop.
@sidharthcs2110
December 30, 2023 at 3:15 pm
The most newer features that are being added to cars these days are not rhere to help people driving.
The only thing most people need is a sound system with radio and maybe a navigation system.
Everything else is pretty much pointless
@10YearOldTom
December 30, 2023 at 3:15 pm
You can afford a place to live or a nice car. not both, unless you want to have crazy debt
@andresulloabrenes
December 30, 2023 at 3:15 pm
Because we can't a afford new car anymore…. DUH!!!😅
@brad349miller
December 30, 2023 at 3:15 pm
Great. Now car companies are going to build them less durable.
This sounds like propaganda. People have been owning older vehicles for decades.
@leecowell8165
December 30, 2023 at 3:15 pm
A lot depends upon HOW and WHERE you drive AND how you protect your vehicle over time. For example up North salts their roads. You need to get that salt off the bottom of your vehicle ASAP but HOW are you gonna do that? Also HOW do you drive? Do you stop & go? I see vehicles constantly lighting up their brake lights when there's NO reason to do that. Others are racing between lights (they don't even see the lights only a short distance in front of them). this type of driving stresses the brakes, wheels, drive chain. Here's a test. Place a glass of water 3/4 full on your dash. If you're spilling that water you are NOT driving correctly!
@donaldmccallum8453
December 30, 2023 at 3:15 pm
Just replaced the fuel pump and radiator on my 96 Chevy Cheyenne 4 wheel drive. Engine runs great at 228000 miles. will I ever give her up? you'll have to pry my cold dead fingers off the steering wheel to get her! At 28 years and counting she is still tough. A little banged up here and there, yeah, but those are :Battle Scars. I may replace the bench seat this year with some nice cozy bucket seats. That will open up a little more room for my HAM radios. Three antennas on the roof already and more to come. My 2015 Kia Soul is in the dealership getting a free new engine. I'm blaming the computers on board. But with a free heart transplant I'll keep her around another 8 years.
@joestewart5406
December 30, 2023 at 3:15 pm
I will never buy a new car, it’s a ripoff and everyone knows. Blame the internet if you’re mad. But it’s really a good thing.
@joestewart5406
December 30, 2023 at 3:15 pm
So it’s a bad thing that we are reusing more and getting more out of cars. To the people that want to take out money and sell us lemons- yes.
@jbar_85
December 30, 2023 at 3:15 pm
You cannot go wrong with a Japanese vehicle! No matter if it’s assembled in America, Canada, or Mexico! I’ve had two Toyotas, two Hondas, and now a Mazda. 0 issues
@user-wc6mu5qw2i
December 30, 2023 at 3:15 pm
I had a Toyota Tercel
I bought it brand new owned for 22years
It was a work horse
I miss that car
@dunky7157
December 30, 2023 at 3:15 pm
Lmao I will never support the predatory credit and car industry. Both my cars have over 200k miles and continue to drive just fine. I’d rather have money in my bank account then paying interest on a depreciating liability.
@letsgobrandon2523
December 30, 2023 at 3:15 pm
Adding more features to the cars to attract buyers is stupid. We cannot afford new cars, making them more expensive isn't going to bring in buyers. Remove features, make them cheaper. I bought a VW 5 years ago, I got it used for $17k. When I was shopping for a replacement once I hit 100k miles, I saw the exact same car, same model year, color everything, for $24k. That's not sustainable, and people can't afford that kind of price inflation. I kept my car. It's way cheaper to fix this car and keep it running than to buy even a used replacement.
@joaopedrodantas2147
December 30, 2023 at 3:15 pm
wow your country had many red flags that something wrong may gon happen in the future, anyway come to Brazil we have a lot job opportunitys right here and a friendely multicultural culture, come while land still cheap
@TheIrishRushin
December 30, 2023 at 3:15 pm
I don't want a different car. Stop trying to make me buy something I don't want.
@gipszjakab7437
December 30, 2023 at 3:15 pm
This is not even that bad! In Hungary, the average car year is 15 years. It would be worse without companies because they can afford a new car every 5 year and their car count too when calculating average car year. It would be worse without them.
In the USA, I see a lot of new cars and cars from the early ‘90s completely disappeared from the roads. While in Hungary you can see family cars from 1992.