4 Statistics About the Value of the Auto Repair Industry

Oct 06, 2023

Owning an automobile means you'll need to maintain and repair it to ensure it's in reliable condition for driving on the road. Throughout the United States, there are many locations that provide auto repair services but also sell parts and supplies to car owners. Given the size of the auto industry, there are so many great facts for drivers to learn. Here are four statistics about the value of the automobile repair industry.


1. The Auto Repair Industry Is Massive


The number of auto repair service providers is extremely high. According to Gitnux, a leading research database, the nation's auto repair industry has more than 168,000 businesses that have a combined $116 billion in market value. That ensures that no matter where they live, most drivers have several options to repair their vehicles. You can find shops with years of experience performing regular services like oil changes, tire adjustments, and glass repairs. You may also find shops that specialize in particular brands or services.


2. Motor Vehicle Registrations Are Rising


In the United States, more people are driving now than ever before. According to Broadly, a trusted database where one can learn about customer experiences with businesses, vehicle registration numbers are rising in the United States with an annual increase of about 1% annually from 2017 through 2022. With more vehicles on the road, demand for more maintenance and repair shops is growing as well. It means that you'll have more options in the future for your vehicle repairs.


3. Older Vehicles Stay on the Road Longer


Many people are driving older vehicles with higher average mileage than in recent years. From the same report, Broadly also states that problems with the national and global supply chains and the rising cost of new vehicles are causing more people to drive older vehicles longer than in the past. Older vehicles with more mileage will require more frequent, at times more expensive, maintenance to keep on the road.


4. Auto Parts Shortages Might Affect Repair Services


The cost of buying new auto parts is rising due to a variety of market factors. According to Statista, a German data gathering and research site, shortages in materials and chips are making it harder for
auto repair facilities to keep commonly used parts on hand. Without a professional's network or relationships with manufacturers, you might find it increasingly difficult to DIY your car repair due to a lack of accessible parts.


With so many different options to choose from, why trust the experts at The Shop of Arlington Tire Pros for your vehicle? With any repair service, we bring over 25 years of experience to the job. Contact us today to schedule your consultation.

auto repair service
08 Mar, 2024
There are a few important facts about the auto repair service industry that you should know about. Keep reading or contact us today to learn more.
More Posts
Share by: