Auto Repair Statistics


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Steve Goldstein
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Auto Repair Statistics 2023: Facts about Auto Repair outlines the context of what’s happening in the tech world.

LLCBuddy editorial team did hours of research, collected all important statistics on Auto Repair, and shared those on this page. Our editorial team proofread these to make the data as accurate as possible. We believe you don’t need to check any other resources on the web for the same. You should get everything here only 🙂

Are you planning to form an LLC? Maybe for educational purposes, business research, or personal curiosity, whatever the reason is – it’s always a good idea to gather more information about tech topics like this.

How much of an impact will Auto Repair Statistics have on your day-to-day? or the day-to-day of your LLC Business? How much does it matter directly or indirectly? You should get answers to all your questions here.

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Top Auto Repair Statistics 2023

☰ Use “CTRL+F” to quickly find statistics. There are total 36 Auto Repair Statistics on this page 🙂

Auto Repair “Latest” Statistics

  • Due to the lack of usage of automobiles during the epidemic, for instance, the requirement for car maintenance has increased by 62.3%.[1]
  • For the years 2021 and 2023, the automobile repair industry’s CAGR is 7% and 51% of motorists keep tire jacks in their cars.[1]
  • Independent car repair businesses do 75% of the aftermarket vehicle repair work for the industry.[2]
  • Connectivity services, shared mobility, and feature upgrades are the new trends to build up the automotive return pool by over 25%.[3]
  • The amount spent on renting cars and trucks increased by 143% in 2020, with continuous increases from May to September, according to a prior ValuePenguin report.[4]
  • From May through September, the amount spent on car repairs and maintenance rose to at least 100% compared to the previous year, before plummeting to 96% in October.[4]
  • The typical car mechanic loves working there for 1-2 years, which is a proportion of 33%, according to 10,606 auto technicians’ resumes.[5]
  • It’s interesting to note that the average age of car technicians is 40, making up about 50% of the workforce.[5]

Auto Repair “Auto” Statistics

  • According to data on auto repair, the typical profit margin for components is from 20% to 28%, while the profit margin for labor is between 50% and 65%.[1]
  • According to information on the electric automotive services sector, 7% of all U.S. automobiles will be electric by 2030.[1]
  • Due to the lack of usage of automobiles during the epidemic, the requirement for car maintenance has increased by 62.3%.[1]
  • On average, people maintain their automobiles for 8.4 years. 10.4% of engineers working in the automobile industry are women.[1]
  • There is a sizable auto repair industry in the U.S., with 162,000 facilities employing about 564,647 auto mechanics.[1]
  • Shares of significant auto parts retailers like O’Reilly Automotive have decreased by around 22%.[2]
  • Combined with new business models powered by connection services, the automotive income pool will increase by over 25% thanks to new trends like shared mobility and feature updates.[2]
  • According to studies, there will be 76 million automobiles in the U.S. that are at least 16 years old in 2023.[2]
  • Around 14 million automobiles on the road today are at least 25 years old, according to a 2015 USA Today report.[3]
  • In the last 10 years, there has been a 60% rise in the average duration of vehicle ownership for both new and used automobiles.[3]
  • At a cumulative annual growth rate of -0.3%, the market for automobile repair and maintenance is anticipated to shrink from $693.5 billion in 2019 to $691.7 billion in 2020.[6]
  • Asia Pacific accounted for 33% of the market in 2019, making it the biggest region in terms of automobile repair and maintenance.[6]
  • Various degrees 9% pay difference for auto mechanics by education employment data for auto mechanics.[5]
  • Whites make up 65.6% of the auto mechanic workforce, followed by Hispanics or latinos at 17.2% and blacks or African Americans at 9.9%.[5]

Auto Repair “Other” Statistics

  • This business, which includes about 16,000 enterprises nationwide, is projected to be worth $880 billion yearly.[7]
  • Global demand for the production of vehicle parts and accessories increased by 3.2% between 2015 and 2020.[1]
  • Data on vehicle maintenance show that 10% of individuals can’t even remember the last time they completed it.[1]
  • People often lack the necessary equipment for some circumstances. Only 47% of motorists keep jumper cables in their vehicles.[1]
  • Despite the impending transition to shared mobility, worldwide vehicle sales will increase by 2% annually on average by 2030.[2]
  • Customers of auto mechanics are divided into the following four groups: families (64.5%), companies (29.7%), the government (4.4%), and nonprofit organizations (1.4%).[8]
  • Customers under the age of 45 (24.1) might be included in the further age segmentation of households and individual consumers. Customers between the ages of 45 and 64 made up 26.1%, while those 65 and over made up 14.3%.[8]
  • The U.S. market is quite fragmented. Less than 10% of revenue is generated by the 50 biggest corporations.[8]
  • Americans spent 162% more on towing, 124% more on new tires, and 117% more on vehicle washes and cleaning.[4]
  • According to the Federal Highway Administration, the coronavirus epidemic caused Americans to travel 432.8 billion fewer miles in 2020 than they did in 2019.[4]
  • In 2020, the price of vehicle washes and cleaning services increased by 20%, while the price of tires increased by 11%.[4]
  • Researchers from ValuePenguin discovered that spending on these services climbed by 123% when compared to 2019.[4]
  • Based on the auto mechanics by race, there are 9.9% of black or African American and 17.2% of Hispanic or Latino people.[5]
  • Based on the foreign languages spoken by auto mechanics, with 6.6% of the population speaking it, French is the second most common language and next is Russian (5.3%).[5]

Also Read

How Useful is Auto Repair

One of the primary benefits of auto repair is safety. Regular maintenance and repairs help to identify potential issues before they escalate into major problems that could compromise the safety of the driver and passengers. From brake inspections to tire rotations, auto repair services are equipped to handle a wide range of issues to keep your car in top condition. Neglecting to address these issues can lead to breakdowns, accidents, and costly repairs down the line.

Furthermore, auto repair is essential for preserving the longevity of your vehicle. Just as our bodies require regular check-ups to ensure we stay healthy, our cars also need ongoing maintenance to remain in good working order. By keeping up with routine maintenance tasks such as oil changes, fluid checks, and engine diagnostics, you can extend the lifespan of your vehicle and prevent premature wear and tear. In the long run, investing in auto repair can save you money by avoiding major repairs or even the need to replace your car altogether.

Another advantage of utilizing auto repair services is the expertise and professional assistance they provide. Most people may not have the skills or knowledge required to effectively diagnose and address complex automotive issues. By entrusting your vehicle to a skilled technician, you can have peace of mind knowing that your car is in capable hands. Auto repair professionals have the training and experience to efficiently troubleshoot problems and make necessary repairs, which can ultimately save you time and energy in the long run.

Moreover, auto repair services contribute to the overall economy by supporting a thriving industry and creating job opportunities for skilled workers. Automotive technicians play a critical role in keeping our vehicles on the road and ensuring the efficiency of our transportation systems. By patronizing local auto repair shops, you are not only investing in the maintenance of your vehicle but also supporting small businesses and contributing to the growth of your community.

In conclusion, auto repair is a valuable service that is essential for maintaining the safety, longevity, and functionality of our vehicles. By staying proactive and addressing issues as they arise, you can prevent major problems and extend the lifespan of your car. Auto repair services offer expertise, professionalism, and convenience to keep your vehicle in optimal condition. Whether it’s a routine oil change or a more complex repair, investing in auto repair is an investment in the reliability and performance of your vehicle.

Reference

  1. carsurance – https://carsurance.net/insights/car-repair-statistics/
  2. linchpinseo – https://linchpinseo.com/trends-auto-repair-industry/
  3. v12data – https://v12data.com/blog/a-look-at-trends-and-statistics-in-the-automotive-aftermarket-industry-2017/
  4. valuepenguin – https://www.valuepenguin.com/year-over-year-changes-automotive-repairs-and-expenses
  5. zippia – https://www.zippia.com/auto-mechanic-jobs/demographics/
  6. prnewswire – https://www.prnewswire.com/news-releases/automotive-repair–maintenance-market-analysis—trends-developments-and-growth-deviations-resulting-from-covid-19-301084303.html
  7. brandongaille – https://brandongaille.com/29-auto-repair-industry-statistics-and-trends/
  8. sbdcnet – https://www.sbdcnet.org/small-business-research-reports/auto-repair-business/

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