CARS reached out to leaders in the automotive repair and service sector of the automotive aftermarket to ask them about their thoughts about the industry over the next 12 months: How will this year be different, what will drive change and what will be the biggest challenge. We will present their answers in alphabetical order over the coming weeks…
You can view the full feature in the February 2023 issue.
Costa Haitas, President, The Mufflerman
We remain to have a positive outlook for repair shops in 2023. Unfortunately, it continues to echo similar challenges that have existed in the last few years but now with the addition of inflationary pressures in the economy.
Even with these unfavourable conditions present, repair centres are here to serve customers as a great alternative to purchasing a new or used vehicle. We continue to see the average age of vehicles coming into our repair centres growing older and that equates to a greater demand for our services. That is where we see the greatest opportunity for automotive repair shops.
The biggest driver of change in the next 12 months will be the continued increasing costs to operate our businesses. Many of our operating expenses have increased, and now is the time to really focus on both the cost and revenue sides of your shops and implement strategies to protect your financial performance.
One of the biggest challenges in 2023 will be employee retention and recruitment. Cost of living continues to grow and so does the shortage of skilled labour in our trade. It might be time to review your compensation plans and ensure they’re in line with your local competition. Also, focus on building an environment of growth for your staff. Offering training and mentorship programs can really help in retaining and growing a solid team.
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