Revenue in the General Repair segment of the aftermarket automotive industry has been steadily on the rise for years. With people keeping their aging vehicles on the road instead of buying new vehicles, there is more of a demand for vehicle service repair. As long as vehicle owners keep their aging vehicles on the road, the future of general repair will continue to prosper. Sales volume for general repair businesses are expected to increase at an average rate of 3% per year for the next several years.
Here are a couple of interesting U.S. vehicle statistics according to Polk: the average age of a car or truck has increased to just under 11 years old, and vehicle owners now keep their cars for nearly six years. For more information on the aging vehicle population, check out Average Age of Vehicles Reaches Record High, According to Polk.
What do you think about the future of the General Repair segment, or the industry as a whole?
Tune in tomorrow for Trend 47: Online Research To Offline Purchase Conversion Rate.