Using data from September 2011, research firm Polk discovered that new car buyers are now holding on to their vehicles for an average of 71.4 months. Not only is that up 4.7 months from March 2011, but also the highest figure every recorded in the study's 11-year history.
Average ownership of all vehicles, according to the study, is 57.0 months.
Polk notes that since the economic downturn took hold in late 2008, the average term of vehicle ownership has increased 23 percent.
