August 28th, 2015
Much has been written about IHS Automotive’s recent report which found the average age of American vehicles is 11.5 years – an increase of 26 months since 2006. While many drivers are hanging on to their vehicles longer due to economic reasons, the increased quality of new vehicles on the road also plays a part in their longevity. While these insights are interesting in themselves, they are having a broader impact on the automotive aftermarket industry. Indeed, additional statistics show the ever-increasing age of Americans’ vehicles is increasing the amount they spend on yearly maintenance of those vehicles. The combination of older vehicles and increased maintenance spending will mean increased traffic into repair shops in the coming years. How can repair shop owners better understand these new customers?
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