Industry Analysis & Industry Trends
As the recession made its way through the economy, consumers pulled back on expenses and fixed cars themselves. As such, industry firms experienced fewer cars coming into their garages and had to mark down prices in order to compete with external competition such as auto parts retailers and oil change shops. As the United States leaves the recession behind, consumers are expected to have more disposable income, which will lead to a higher volume of cars on the road and more willingness to spend money on a mechanic... purchase to read more
Industry Report - Industry Key Buyers Chapter
The Auto Mechanics industry has a low level of concentration. In 2013, the top four industry operators will generate less than 5.0% of industry revenue, and the majority of companies (about 60.0%) are nonemploying establishments. Over the past five years, market share concentration has increased because small operators that were unable to cope with the stark drops in customers exited the industry or were acquired by larger players. Over the five years to 2013, the number of industry companies is declining at an estimated average annual rate of 1.6% to 210,124. There have also been several acquisitions over this period. For example, industry operator Midas acquired SpeeDee in 2008... purchase to read more