With more vehicles in operation, an increasing average age of vehicles on the road and a declining number of vehicle repair shops, there are many opportunities for future growth. Giving the best service and customer care becomes imperative. LangMarketing.com reports the following industry nuggets:
The total number of car and light truck repair outlets that have decreased in the U.S. over the last five years.
While the total number of repair outlets declined in recent years, there’s been growth among outlets that specialize in tire sales and light repairs – and outlets that specialize in foreign nameplates.
With the increase in average age of vehicles on the road, and a decrease in the number of vehicles being scrapped, there’s an increase in demand for replacement parts (both maintenance and repair).
The amount a typical car owner spent in parts and accessories in 2015, up from $304 five years earlier. Light trucks climbed from $430 in 2010 to over $475 in average by 2015.
The amount made in registered tire sales last year in North America. The top producers with market share were: 1. Bridgestone Americas 22.4% 2. Michelin 20.3% 3. Goodyear 15.1% 4. Continental Tire 6.1% 5. Cooper Tire 5.6%