Industry Analysis & Industry Trends
Get your motor runnin'
Though the Auto Customization Shops industry suffered as a result of the recession, consumers have increased their discretionary spending, and the industry is regaining traction. This trend, along with rising average car prices, will continue to benefit the industry, though rising raw-material and oil prices still threaten revenue and profit.... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Auto Customization Shops industry is mature. Over the 10 years to 2017, industry value added (IVA), which measures the industry's contribution to the economy, is expected to increase at an average annual rate of 1.2%. This growth rates implies that the industry is expected to grow slower than the US economy, which is projected to rise an average of 1.9% annually over the same period. This trend, however, is mostly due to the recession-related declines the industry experienced over the past five years (with IVA declining 0.8% per year). Over the next five years, on the other hand, IVA is forecast to grow 2.9% per year, more closely matching GDP growth of 3.3% per year through 2017... purchase to read more