A slew of past and present trends are likely to shape the auto repair industry in the coming years. Let’s take a quick look at some of the most notable.
Increasing Use of e-Hailing and Car-Sharing Services
Of the many trends likely to shape the auto repair industry in the coming years, one of the most notable is the increasing use of e-hailing and car-sharing services. From an auto repair perspective, the most important consequences of this trend are higher rates of wear and tear and a greater need for auto repair services. For this reason, auto repair shops will probably see greater demand for their services from operators of e-hailing and car-sharing services over the next few years. Let’s take a quick look at other trends that are likely to shape the auto repair industry in the coming years.
Preference for Leasing over Purchase
Another notable trend is the growing preference for leasing over outright purchase. As a result, many auto repair shops will likely develop partnerships with car leasing companies to take advantage of this shift.
Growing Use of Advanced Automotive Tech
The number of processors in a modern vehicle can easily top 3,000, according to The New York Times. Mainstream cars have up to 10 million lines of code, with high-end vehicles boasting as many as 100 million lines, notes USA Today Tech. This blend of software and processing heft is necessary to power an array of cutting-edge features, including advanced safety and driver assistance systems. The growing adoption of state-of-the-art vehicle technology is, in turn, fueling changes in the auto repair industry. More and more facilities are hiring or training personnel and acquiring the tools and equipment they need to competently handle today’s — and tomorrow’s — high tech vehicles.
Increasing Number of Older Vehicles
Even as the number of automobiles using advanced technology continues to grow, the ranks of older vehicles continue to swell. According to market intelligence firm IHS Markit, 25 percent of cars in the United States are 16 years or older. The average age of vehicles was 11.9 years in 2020 — a record high, and the fourth straight year that the mean vehicle age has risen in the United States. Given the current shortage of new vehicles and prevailing concerns about the economy, most car owners will likely continue to keep their steeds for longer. This means auto repair shops will have to be conversant with both newer and older models.
These are some of the top trends that will shape the auto repair industry in the coming years. As game-changing disruption continues to rock the automotive industry, the effects will reverberate in the auto repair industry.