Passenger cars and light trucks in the United States had an average age of **** years in 2024. This figure represents a slight increase from **** years in 2023. New vehicle sales decline amid pandemic Long-term auto loans and good quality might be reasons why American motorists keep their automobiles longer. That said, vehicle sales in the United States declined dramatically in the second quarter of 2020. As a result, U.S. vehicle age is expected to rise further as U.S. motorists put off vehicle purchases among the COVID-19 crisis in the country and took an interest in buying used cars. Throughout 2022 and 2023, U.S. vehicle sales remained relatively stable, despite geopolitical disruptions. Amid supply chain shortages, North American automobile sales are projected to increase to around ** million units by 2024. The future market At **** years old, the average vehicle age in the United States is at a record high but the newest cars on the market are entering the next era of automotive technology. Shared mobility, automation, and electrification are several key aspects of the modernization of the motor industry. Electric vehicles are anticipated to witness growing demand in the U.S. Already, electric cars are the favored choice in other important auto markets, including China.

On average, motorists in the United States continue to hold on to their vehicles for a longer time. In 2021, the average age of light vehicles on U.S. roads stood at **** years, up from **** years in 2009.

As of 2020, Russia was the country with the highest average vehicle age when compared to China, the United States, and Germany. All the country's registered vehicles were on average just under ** years of age. By contrast, China's licensed vehicle fleet was overall younger, with a mean age of *** years.

Forecast: Passenger Cars Average Age in Operation in the US 2024 - 2028 Discover more data with ReportLinker!

Graph and download economic data for Consumer Unit Characteristics: Number of Vehicles by Age: from Age 25 to 34 (CXUVEHICLESLB0403M) from 1984 to 2023 about consumer unit, age, 25 years +, vehicles, and USA.

Around **** of all car owners in the U.S. are over the age of 60 years old. High upfront and running costs can be expensive, and many Americans must either save up or wait until they have the income to afford vehicle ownership.

This statistic illustrates the average age of North American freight rail cars from 2014 to 2020. In 2020, the average age stood at **** years, a slight increase from **** years in the previous year.

As of **************, passenger cars in Japan had an average age of approximately **** years. Over the past decade, the average age of passenger cars increased steadily, hinting at improved durability of vehicles owned in Japan. The Japanese automobile landscape The Japanese automotive industry developed rapidly during the 'economic miracle' post-World War II, making the country one of the largest motor vehicle producers in the world. While international competition within the automobile sector is tight, Japanese engineering is highly valued in its home market and abroad. Domestically produced cars are primarily exported to North America, whereas imported passenger cars arrive predominantly from Europe, followed by imports from Africa and other Asian regions. Domestic passenger car usage Japan’s usage rate of passenger cars was much higher among car owners from rural regions compared to those living in the country’s metropolitan areas, such as Tokyo or Osaka. Due to rising environmental awareness, green vehicle technologies, and car-sharing services that started to pick up in Japan, a new approach to vehicle usage and purchase behavior has likely been sparked.

In the fourth quarter of 2024, there were around ***** million vehicles operating on roads throughout the United States. Almost **** million used vehicles changed owners in the U.S. between the fourth quarter of 2023 and the fourth quarter of 2024, while new registrations of vehicles came to about **** million units during that period. Automotive market disparities The number of licensed drivers had been steadily increasing up to just under ******* in 2023, but the automotive market has been impacted by economic developments over the past few years. The U.S. vehicle fleet is aging, reflected by the slow increase in the average vehicle age from **** years in 2018 to over ** years in 2024. This is in part due to market disparities. The average selling price of new vehicles has been increasing to nearly ****** U.S. dollars in 2024, up from under ****** in 2016. Used car prices have been declining after the chip shortages linked to the COVID-19 pandemic, reaching around ****** U.S. dollars in 2024. The majority of U.S. car owners earned more than ****** U.S. dollars per years, with the ****** to ****** income group owning over ** percent of the vehicles in use. The boom of the used vehicle market Close to ************* of new car buyers were born between 1946 and 1981, with Gen X being the leading consumers by age group for both the new and used vehicle market. Used light vehicle sales have been steadily increasing since 2010, representing well over double the size of the new light vehicle market in 2024. With a product range priced below new vehicle prices, used vehicles are gaining momentum in the United States. The average American household spends some ***** U.S. dollars on vehicle purchases annually, with consumers in income groups earning above 100,000 U.S. dollars per year spending above ***** dollars annually on car buying. Used vehicle financing options are naturally more affordable than new vehicle financing options, with an average monthly payment over *** dollars for loan payments for new vehicles.

Used Cars

Analyzing Seller Type, Vehicle Type and Year of Registration

By Data Society [source]

About this dataset

The autos.csv dataset is a comprehensive collection of valuable data about used cars, and provides insight into how the cars are being sold, what price they are being sold for, and all the details about their condition. Each ad contains information such as dateCrawled (the date the ad was first seen), name of the car, seller type (private or dealer), offer type, price, A/B testing information , vehicle type, year of registration (at which year was the car first registered) , gearbox type, power output in PS (horsepower) , model of car , howmany kilometers has it driven so far , monthof registration(when it was first registered)(essentially giving us an idea about its age), fueltype utilized by it( petrol/diesel /electricity/lpg etc.), brand name to which it belongs to notRepairedDamage - if there is any damage on the vehicle that has not been repaired yet. DateCreated gives us information when this particular advertisement was created in ebay or other place where these cars can be posted. The nrofpictures field will give you an estimate regarding how many images have been included with this ad and postalcode contain info regarding area code where car have been posted.. Lastly lastseen give us time estimation when a crawler last scan this particular post online .All these factors are instrumental in determining a suitable price for used vehicles . Meanwhile regression analysis based on average prices related to years can be done from this dataset .So grab your laptop get ready !!!

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How to use the dataset

This dataset is a great resource to begin exploring the factors that affect used car prices. With features such as dateCrawled, name, seller, offerType, price, abtest among other data points it can be used to uncover how different aspects of a vehicle determine the pricing of second hand cars.

The first step would be to explore and understand what each of these fields represent and have an idea about their importance when pricing a used car. One might then proceed by plotting distribution plots for numerical variables such as yearOfRegistration with price or bar graphs for categorical fields like fuelType to observe if there is any correlation with price in these variables. Knowing certain key trends can assist in predicting future market prices more accurately than relying on yearly averages of all car values combined - which might give shapes too broad general trends instead precise predictions when working with this dataset alone.

In addition understanding how long a listing lasts before being sold would give valuable insight into discover how competitive offers should stay when customers come across relevant listings on say ebay or other trading sites that list used cars; this could achieved by utilizing two columns - lastSeen and dateCrawled - to figure out their average lifespan before they were sold out. It's likely that its higher priced counterparts tend to remain listed longer than cheaper listings which quickly disappear after being seen often enough by members in related markets searching those platforms for new vehicles up for sale at any given time within certain parameters established such as location or age amongst others .

Finally one might use supervised learning algorithms such as Linear Regression or Random Forest coupled with feature engineering methods like PCA (Principal Component Analysis) aiming at reducing high dimensionality issues on datasets composed mostly of categorical variables so we can perform actual machine learning operations over extracted numerical feature columns from processes along those lines previously mentioned

Research Ideas

• Analyze the relationship between car prices and age (year of registration) using a linear regression model to suggest which cars provide the best value for money.
• Use classification models to predict vehicle types based on features like powerPS, price, brand, etc.
• Compare and contrast seller types (private vs dealer) by analyzing prices, seller locations and other geographic information in order to give advice on which type of seller provides the best deals for customers

Acknowledgements

If you use this dataset in your research, please credit the original authors. Data Source

License

License: Dataset copyright by authors - You are free to: - Share - copy and redistri...

Graph and download economic data for Consumer Price Index for All Urban Consumers: Used Cars and Trucks in U.S. City Average (CUSR0000SETA02) from Jan 1953 to Sep 2025 about used, trucks, vehicles, urban, consumer, CPI, inflation, price index, indexes, price, and USA.

Online automotive parts and accessories retailers have exhibited robust growth through the end of 2025, particularly as consumers increasingly adopt online shopping. To capitalize on this trend, many traditional brick-and-mortar retailers have invested in omnichannel sales systems that leverage their existing distribution infrastructure and brand recognition. Traditional auto parts retailers with online shopping experiences have been able to fend off fully e-commerce-based companies and large-format retailers. Specialization in auto parts, combined with the ability to order online and pick up merchandise in-store, has enabled auto parts retailers to capture a growing share of online purchases. Overall, IBISWorld expects revenue to climb at a CAGR of 3.7% to $5.8 billion through the end of 2025, including a jump of 2.4% in 2025 alone. As a subset of the overall auto parts retail market, the industry has largely grown in line with the expansion of auto parts retailers. As incomes swell, consumers purchase more cars and spend more on noncritical replacement parts and accessories. The number of motor vehicles registered in the United States has grown steadily, along with the average age of vehicles, which has expanded the portion of the vehicle fleet that's in the repair-and-replacement age range. The wider trend towards online retailing accelerated in 2020 amid the pandemic, enabling online sellers to outpace brick-and-mortar retailers. In addition to greater online adoption, supply chain issues have limited the supply of both new and used cars, shifting spending toward repairs and maintenance. However, supply chain disruptions also led to higher input costs, dampening profit gains. The industry will continue to expand as more consumers and downstream businesses conduct their transactions online. IBISWorld expects per capita disposable income to expand at a CAGR of 2.2% through the end of 2030, supporting sales of replacement parts and accessories. Retailers will also capitalize on increased spending by hobbyists and car collectors, especially as classic car ownership becomes more prevalent among younger generations. In general, online stores will give consumers more pricing power and alternatives compared with brick-and-mortar stores, facilitating growth. Overall, revenue for online automotive parts and accessories sellers is expected to swell at a CAGR of 3.2% to $6.8 billion through the end of 2030.

Engine Replacement Market Outlook

According to our latest research, the global engine replacement market size reached USD 45.7 billion in 2024, reflecting robust demand across multiple automotive sectors. The market is projected to grow at a CAGR of 5.8% from 2025 to 2033, reaching an estimated USD 76.2 billion by 2033. This steady expansion is primarily driven by increasing vehicle parc, rising average vehicle age, and advancements in engine technologies that support both traditional and alternative powertrains. As per our comprehensive analysis, the industry is witnessing a transformative phase, propelled by evolving consumer preferences, stringent emission norms, and the growing adoption of hybrid and electric vehicles.

A key growth factor for the engine replacement market is the expanding global vehicle fleet and the increasing average age of vehicles on the road. As more vehicles remain in service for extended periods, the need for engine replacements rises, particularly in regions with established vehicle fleets such as North America and Europe. Additionally, emerging economies in Asia Pacific and Latin America are experiencing rapid motorization, leading to higher vehicle sales and, consequently, a larger base requiring engine maintenance and replacement in the coming years. The prevalence of used vehicles in these markets further amplifies the demand for replacement engines, as consumers seek cost-effective solutions to extend the lifespan of their automobiles.

Another significant driver is the advancement and diversification of engine technologies, including gasoline, diesel, hybrid, and electric powertrains. As automakers innovate to meet stricter emission regulations and consumer expectations for performance and efficiency, engine designs are becoming increasingly complex. This complexity often results in higher replacement costs and a greater reliance on specialized services, which benefits both OEMs and aftermarket suppliers. The rise of hybrid and electric vehicles is particularly noteworthy, as these segments are creating new opportunities for engine replacement providers to develop expertise in next-generation propulsion systems, thus broadening the scope of the market.

Regulatory trends are also shaping the engine replacement market, especially with governments worldwide implementing stricter emission and fuel efficiency standards. These regulations are compelling vehicle owners to replace outdated or non-compliant engines with newer, more efficient models. In addition, incentives for scrappage and replacement of older engines are encouraging consumers and fleet operators to invest in modern powertrains. Environmental awareness among consumers is further fueling the shift toward cleaner engine technologies, including hybrid and electric options, which is expected to accelerate as infrastructure and support systems for alternative fuels improve globally.

From a regional perspective, Asia Pacific continues to dominate the engine replacement market, supported by its vast vehicle population, rapid urbanization, and growing disposable incomes. North America and Europe also represent significant markets, characterized by mature automotive sectors and a high average age of vehicles. The Middle East & Africa and Latin America are emerging as growth hotspots, driven by increasing vehicle ownership and infrastructural developments. These regional dynamics, combined with evolving consumer preferences and regulatory frameworks, are creating a complex yet promising landscape for engine replacement providers worldwide.

Engine Type Analysis

The engine replacement market is segmented by engine type, including gasoline, diesel, hybrid, electric, and others. Gasoline engines currently command a substantial share of the market, owing to their widespread use in passenger vehicles and light commercial vehicles. The continued popularity of gasoline engines is attributed to their lower initial cost, ease of maintenance, and established service infrastructure. However, the segment is facing increasing competition from alternative powertrains, as regulatory pressures and consumer awareness drive the adoption of cleaner technologies. Despite this, the gasoline engine replacement segment remains resilient, particularly in regions where emission norms are less stringent and fuel prices are relatively stable.

Diesel engines, traditionally favored in heavy commercial v

The US Automotive Engine Oil Market size was valued at USD 6.36 Billion in 2024 and is projected to reach USD 7.17 Billion by 2032, growing at a CAGR of 1.9% from 2026 to 2032

Key Market Drivers:

Increasing Vehicle Fleet and Miles Driven: The growing vehicle fleet in the United States, as well as increased vehicle miles travelled (VMT), directly influence engine oil consumption. According to the Federal Highway Administration of the United States Department of Transportation, Americans will drive 3.27 trillion miles in 2022, up 0.9% from 2021.

Extended Vehicle Age and Maintenance Requirements: The average age of automobiles on US roadways is increasing, demanding more regular oil changes and maintenance.

The Auto Extended Warranty Providers industry has expanded over the past five years. Industry servicers provide automobile owners with warranties that extend past the one that a car's manufacturer provides for a new vehicle. Participants in this industry include car manufacturers, car dealers and other third-party warranty providers. During the period, the industry has benefited from the average age of the vehicle fleet in the United States increasing, as consumers typically purchase auto extended warranties or vehicle service contracts after their manufacturing warranty expires. In addition, despite an increase in per capita disposable income, new car sales fell due to the negative impact of the pandemic and inflationary pressures in the latter part of the current period, limiting industry growth. Overall, industry revenue increased at a CAGR of 2.7% to $32.7 billion over the past five years, including an expected 1.4% increase in 2025 alone. Evolving trends in warranty plans offered by auto manufacturers and dealerships have led to increased competition for third-party auto extended warranty providers. Automobile manufacturers are increasingly offering more comprehensive warranty plans, making extended warranties less attractive. To stay competitive with extended warranty offerings from auto manufacturers and dealerships, third-party providers were forced to cut prices. Additionally, increased competition within the industry has led to some merger activity among the largest operators. These mergers look to achieve economies of scale that allow the new company to more competitively price policies. Nonetheless, rising inflationary pressures that ate into consumers' purchasing power lowered their propensity to acquire vehicles, causing industry profit to slump. Over the next five years, the industry is poised to rebound in large part due to rebounding economic conditions. An increase in the average age of the vehicle fleet, per capita disposable income and new car sales are all expected to support the industry. Nonetheless, growth is expected to be pressured early in the period as high inflation is expected to be persistent. In addition, industry servicers may be challenged as price-based competition increases. Overall, industry revenue is expected to grow at a CAGR of 2.4% to $36.8 billion over the next five years.

This statistic represents the average age of the U.S. Amtrak rail car fleet in 2015, with a breakdown by type. In that year, the average age of passenger and other train cars in Amtrak's fleet was 30.7 years.

Automotive Personalization Services Market Outlook

According to our latest research, the global Automotive Personalization Services market size reached USD 41.8 billion in 2024, driven by a growing consumer demand for customized vehicles and technological advancements across the automotive sector. The market is projected to expand at a robust CAGR of 8.4% from 2025 to 2033, reaching an estimated USD 87.6 billion by 2033. This dynamic growth is fueled by rising disposable incomes, a shift towards individual expression through vehicles, and the increasing integration of advanced electronics and connectivity solutions in automobiles.

One of the primary growth drivers for the Automotive Personalization Services market is the evolving consumer preference for vehicles that reflect their personal style and functional requirements. Modern consumers, particularly millennials and Gen Z, are increasingly seeking unique, personalized experiences, and this trend is strongly evident in the automotive sector. The demand for customized interiors, advanced infotainment systems, and performance enhancements is on the rise, as automotive buyers look to differentiate their vehicles from standard factory models. Additionally, the proliferation of digital platforms and online configurators has enabled consumers to explore and select from a wide array of personalization options, further accelerating market growth.

Technological advancements are playing a crucial role in shaping the Automotive Personalization Services market. The integration of smart technologies, such as IoT-enabled connectivity, advanced lighting systems, and AI-driven infotainment, has opened new avenues for vehicle customization. Automakers and aftermarket service providers are leveraging these technologies to offer innovative personalization solutions, ranging from adaptive ambient lighting to AI-powered voice assistants. Furthermore, the increasing adoption of electric vehicles (EVs) is creating new opportunities for personalized battery management systems, custom charging solutions, and unique exterior designs tailored to EV platforms.

The expansion of the aftermarket segment is another significant growth factor for the Automotive Personalization Services market. As vehicle ownership cycles extend and the average age of vehicles on the road increases, consumers are turning to aftermarket services to upgrade and personalize their cars. This trend is particularly pronounced in emerging markets, where rising middle-class incomes and a growing car enthusiast community are driving demand for performance tuning, aesthetic enhancements, and connectivity upgrades. The availability of a wide range of aftermarket products and services, coupled with digital marketing strategies, is further boosting market penetration and consumer engagement.

From a regional perspective, Asia Pacific continues to dominate the global Automotive Personalization Services market, accounting for the largest share in 2024. This leadership is attributed to the region’s rapidly expanding automotive industry, increasing urbanization, and a tech-savvy consumer base. North America and Europe also represent significant markets, driven by strong automotive cultures and high disposable incomes. Meanwhile, Latin America and the Middle East & Africa are witnessing steady growth, supported by rising vehicle sales and a growing appetite for personalized mobility solutions. The regional landscape is characterized by diverse consumer preferences and regulatory environments, influencing the adoption and evolution of personalization services across different markets.

Service Type Analysis

The Service Type segment forms the backbone of the Automotive Personalization Services market, encompassing a range of offerings such as Exterior Customization, Interior Customization, Performance Tuning, Infotainment & Connectivity, Lighting, and Others. Exterior Customization remains a popular choice among consumers seeking to enhance the visual appeal and aerodynamic efficiency of their vehicles. This includes services like custom paint jobs, body kits, alloy wheels, spoilers, and wraps, which are increasingly being adopted not only by individual car owners but also by fleet operators aiming to reinforce brand identity. The growing influence of automotive aesthetics on resale value and social media presence is further propelling demand for exterior customization services worldwide.

Interior Cus

Car Body Kit Market Outlook

As per our latest research, the global car body kit market size in 2024 is valued at USD 3.12 billion, reflecting robust demand driven by automotive customization trends and the rising popularity of vehicle personalization. The market is exhibiting a steady compound annual growth rate (CAGR) of 5.9% from 2025 to 2033. By the end of 2033, the car body kit market is projected to reach USD 5.38 billion. This growth is primarily attributed to the increasing consumer interest in aesthetic enhancements, performance upgrades, and the expanding automotive aftermarket sector globally.

One of the primary growth factors driving the car body kit market is the escalating demand for automotive customization among vehicle owners. Consumers, particularly in urban and developed regions, are increasingly seeking ways to personalize their vehicles to reflect their style and preferences. The proliferation of social media and car enthusiast communities has further amplified the desire for unique, standout vehicles. This trend is particularly evident among younger demographics who view their vehicles as an extension of their personality, leading to increased adoption of car body kits such as bumper kits, spoiler kits, and widebody kits. Additionally, the growing influence of motorsports and car modification shows has significantly contributed to the mainstream acceptance of car body kits, further fueling market expansion.

Technological advancements in materials and manufacturing processes are also playing a crucial role in the growth of the car body kit market. The development and adoption of lightweight yet durable materials such as carbon fiber, advanced fiberglass, and high-grade ABS plastic have enabled manufacturers to produce aesthetically appealing and functional body kits that do not compromise vehicle performance. These materials offer improved aerodynamics, reduced weight, and enhanced structural integrity, making them highly desirable for both performance enthusiasts and everyday drivers. Furthermore, the integration of advanced manufacturing techniques such as 3D printing and precision molding has made it easier for companies to offer customized solutions at competitive prices, thereby attracting a broader customer base.

Another significant factor propelling the car body kit market is the robust expansion of the automotive aftermarket industry. As vehicle ownership rates rise globally and the average age of vehicles on the road increases, consumers are more willing to invest in upgrades and modifications to maintain or enhance their vehicles’ appearance and performance. The aftermarket segment, which includes both OEM and third-party suppliers, has seen a surge in new product launches and collaborations aimed at catering to diverse consumer needs. The ease of availability of car body kits through both offline and online sales channels has further democratized access, enabling enthusiasts and regular car owners alike to participate in the customization trend.

Regionally, Asia Pacific continues to dominate the car body kit market, accounting for the largest share in 2024, followed by North America and Europe. The region’s leadership can be attributed to its vast automotive industry, rising disposable incomes, and the cultural emphasis on vehicle aesthetics, particularly in countries like China and Japan. North America remains a key market due to its strong car enthusiast culture and vibrant aftermarket ecosystem, while Europe’s focus on high-performance vehicles and luxury cars drives demand for premium body kits. Meanwhile, emerging markets in Latin America and the Middle East & Africa are witnessing gradual growth, supported by increasing urbanization and rising automotive sales.

Product Type Analysis

The car body kit market is segmented by product type into bumper kits, spoiler kits, side skirt kits, widebody kits, and others, each catering to distinct consumer preferences and vehicle requirements. Bumper kits represent a significant share of the market, driven by their dual role in enhancing both vehicle aesthetics and protection. Consumers often opt for aftermarket bumper kits to replace damaged stock components or to achieve a sportier, more aggressive look. The popularity of bumper kits is further bolstered by the increasing incidence of minor collisions and the desire for affordable yet impactful vehicle upgrades. Ma

Automotive Lubricating Oil Market Outlook

The global automotive lubricating oil market size was valued at approximately USD 55 billion in 2023 and is projected to reach nearly USD 85 billion by 2032, growing at a compound annual growth rate (CAGR) of 4.8% from 2024 to 2032. This robust growth is driven by various factors, including increasing vehicle production, the rising average age of vehicles, and advancements in lubricating oil formulations aimed at enhancing engine efficiency and meeting stringent environmental regulations.

One of the primary growth factors for the automotive lubricating oil market is the substantial increase in global vehicle production. Emerging economies, particularly in the Asia Pacific region, are witnessing rapid urbanization and industrialization, leading to a surge in the demand for automobiles. This, in turn, elevates the need for high-quality lubricating oils that ensure optimal vehicle performance and longevity. Additionally, the rising disposable incomes in these regions are enabling more consumers to afford personal vehicles, further propelling market growth.

Another significant factor contributing to market expansion is the continuous advancements in lubricating oil technology. Manufacturers are focusing on developing innovative oil formulations that not only enhance engine performance but also meet stringent environmental standards. The shift towards synthetic and bio-based lubricants, which offer superior performance and lower environmental impact compared to traditional mineral oils, is being encouraged by regulatory frameworks aimed at reducing carbon emissions and promoting sustainability.

The increasing average age of vehicles globally is also a crucial driver for the automotive lubricating oil market. As vehicles age, their engines and other components require more frequent and high-quality lubrication to maintain efficient operation and prevent wear and tear. This trend is particularly evident in developed regions such as North America and Europe, where the average vehicle age is steadily rising, thereby boosting the demand for lubricating oils. Furthermore, the growing preference for preventive maintenance among vehicle owners is leading to regular oil changes and usage of premium lubricants, which further supports market growth.

From a regional perspective, Asia Pacific holds the largest share of the global automotive lubricating oil market and is expected to maintain its dominance throughout the forecast period. The region's burgeoning automotive industry, coupled with favorable government policies and investments in infrastructure development, is driving market growth. North America and Europe are also significant markets, with the presence of major automotive manufacturers and advanced technological capabilities facilitating the adoption of high-performance lubricants. Meanwhile, regions such as Latin America and the Middle East & Africa are experiencing moderate growth, driven by increasing vehicle ownership and economic development.

Base Oil Analysis

The automotive lubricating oil market is segmented by base oil into mineral oil, synthetic oil, semi-synthetic oil, and bio-based oil. Mineral oils have traditionally dominated the market due to their cost-effectiveness and widespread availability. However, the trend is gradually shifting towards synthetic and semi-synthetic oils owing to their superior performance characteristics. Synthetic oils, in particular, are known for their excellent thermal stability, low volatility, and extended drain intervals, making them a preferred choice for modern, high-performance engines. The market for bio-based oils, though currently small, is expected to grow significantly as environmental concerns and regulatory pressures increase.

Mineral oils, derived from petroleum, are widely used in the automotive industry for their affordability and ease of production. They cater to a broad spectrum of vehicles, especially in developing regions where cost considerations are paramount. Despite their extensive use, mineral oils are gradually being phased out in favor of more advanced alternatives due to their limited performance under extreme conditions and shorter service life.

Synthetic oils, on the other hand, are crafted through chemical synthesis, offering enhanced lubrication properties. They are particularly beneficial in high-performance and high-temperature applications. Synthetic oils provide superior protection against engine wear, deposit formation, and oxidation, making them ideal for modern engines that operate under stringent

This statistic represents the average vehicle purchase expenditure by Americans in 2016, with a breakdown by type of expenditure and age of consumer. Americans aged between 25 and 34 spent, on average, ***** U.S. dollars on gasoline and motor oil in 2016.