Introduction to Wreckonomics™ is a primer for auto recycling in 2018, the appetite for vehicles being retired from U.S. roadways and the market for the scrap metal and materials that can be reused from the most recycled consumer product: the automobile.
The focus of Wreckonomics™ is on the economics related to end of life vehicles. Automobiles are the most heavily recycled consumer product in the United States and the auto recycling industry is a $25 billion per year industry. Every year there are around 17 million new cars purchased but at the same time we retire just 11 million vehicles per year. This gap in consumption and retirement has created a record amount of vehicles in operation on U.S. roadways at over 260 million vehicles. This information and more is visualized in the below introduction to our blog series which can be revisited at any of the links below.