Industry Analysis & Industry Trends
The Auto Mechanics industry has grown steadily over the past five years. Individuals and businesses have increased demand for industry services, as rising per capita disposable income and corporate profit encourages consumers to opt for auto mechanic services over do-it-yourself repair. In the coming years, disposable income levels are expected to continue to grow, encouraging some consumers to spend more on the maintenance and repair of their vehicles. However, as consumers become more comfortable financially, an increasing number of car owners is expected to scrap older vehicles in need of expensive repairs, and instead opt to buy new replacement vehicles... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Auto Mechanics industry is in the mature stage of its life cycle. Industry value added (IVA), a measure of an industry's contribution to the economy, is expected to grow at an annualized rate of 0.8% over the 10 years to 2021. Comparatively, US GDP is anticipated to grow at an annualized rate of 2.2% over the same period. IVA growth is expected to grow at a slower rate than GDP, as enterprise and establishment numbers remain stable during the period. Additionally, while newer vehicles are becoming more technologically advanced, these products are not industry wide and are not redefining the industry as a whole.
Demand for auto mechanic services varies depending on patterns in motor vehicle use and levels of disposable income... purchase to read more