Digital Auto Care Factbook 2018 - 69
2.0
1.8
1.6
1.4
1.2
Miles Driven and Vehicle Service Contracts
Americans drove a record 3.2 trillion miles in
2016, another record year. Vehicle miles traveled
on U.S. roads increased by 2.8 percent, 87.5
billion more miles than were travelled last year.
This also marks the fifth consecutive year that
miles traveled experienced an increase since
its 0.7 percent drop in 2011. Steady job growth,
increased productivity, falling unemployment
numbers, business investments and low
gasoline prices contributed to the increase in
miles driven over the past two years.
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Annual Miles Driven, 2000-2016 (Trillions of Miles)
3.4
3.2
3.0
2.8
2.6
2.4
2.2
2.0
1.8
1.6
2016
2015
2014
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
1.2
2001
1.4
2000
The nationwide average price per gallon of
gasoline for all grades as of March 2017 was
$2.43. For the 2017 summer driving season,
the US Department of Energy is forecasting
regular gasoline retail prices to average $2.46
per gallon. Given the low gasoline price, some
experts are predicting a banner year again on
the road for Americans this summer, leading to
increased vehicle miles traveled in 2017.
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Annual Miles Driven, 2000-2016
(Percent Change from Previous Year)
4%
3.5%
3% 2.5%
2.8%
2.6%
1.8% 2.1%
2%
1.2%
1%
1.1% 1.3%
0.9% 0.8%
0.5%
0.3%
0.3%
2016
2015
2014
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
According to the Warranty Management
0%
Professionals estimates, the size of U.S.
-0.6%
-1%
-0.7%
extended warranty market was $41.4 billion in
2016. Since 2009, the industry has grown 59.5
-2%
-1.9%
percent from $26 billion reaching $41.1 billion
-3%
in 2016. With a market share of 41.1 percent,
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Vehicle Service Contracts (VSC) comprise a
major portion of the industry, followed by mobile
Note:
Historical data have been revised.
phones (22.9 percent). Consumers paid $17
Sources: Auto Care Industry, U.S. Department of Transportation /
billion in premium for VSCs in 2016. VSC or
Federal Highway Administration, January 2016
an extended auto warranty is an agreement
between an administrator and a vehicle owner
under which the administrator agrees to replace or repair, for a specific coverage period, designated vehicle parts in the event of a
mechanical failure.
U.S. Service Contract Market Estimates, 2009-2016
Premiums Paid by Consumers ($Billion)
2009
2010
2011
2012
2013
2014
2015
2016
% Change
2015-2016
% Change
2009-2016
Vehicle Service Contract
$9.9
$11.2
$12.4
$14.0
$15.0
$15.9
$16.8
$17.0
1.2%
71.5%
Mobile Phone Insurance
$3.4
$3.8
$4.6
$5.7
$7.8
$9.1
$9.3
$9.5
2.1%
177.6%
Retail Consumer Electronics
$5.2
$5.4
$6.2
$7.0
$6.5
$6.6
$7.0
$6.7
-3.4%
28.4%
Computer OEMs
$4.8
$5.1
$5.2
$5.2
$4.7
$4.6
$4.5
$4.4
-3.2%
-8.7%
Home Warranty
$1.5
$1.6
$1.6
$1.7
$1.7
$1.8
$2.0
$2.2
9.8%
44.9%
Retail Appliance Service Contract
$1.1
$1.1
$1.2
$1.2
$1.3
$1.5
$1.5
$1.6
6.6%
50.0%
$26.0
$28.1
$31.2
$34.8
$37.0
$39.5
$41.1
$41.4
0.7%
59.5%
Total
The 2018 Digital Factbook is Copyright © 1990 Auto Care Association and/or its licensor.
All other rights reserved. Use of the 2018 Digital Factbook is subject to compliance with the Legal Terms and Conditions found on page 119 of this report.
69
Table of Contents for the Digital Edition of Digital Auto Care Factbook 2018
Digital Auto Care Factbook 2018 - Intro
Digital Auto Care Factbook 2018 - I
Digital Auto Care Factbook 2018 - II
Digital Auto Care Factbook 2018 - III
Digital Auto Care Factbook 2018 - IV
Digital Auto Care Factbook 2018 - 1
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