The number of cars on Australia’s roads is projected to grow by 7 per cent and the average age of vehicles will increase to 10.9 years by 2025 in part because of COVID-19 fallout as households hold on to older vehicles for longer in the pandemic.

The ban on overseas travel and a shift to domestic driving holidays combined with a reluctance to use public transport is proving a bonanza for a range of companies, with automotive parts group GUD Holdings the latest to deliver record profits.