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Increasing number of ageing US vehicles drives growth in automotive services
Revenues generated by US automotive repair and maintenance service establishments are forecast to grow 2.2% annually to 2020.
The number of light vehicles in use is expected to exceed 263 million in 2020, and many of these vehicles are approaching an age where costly repairs become more likely.
Automotive repair and maintenance providers also stand to benefit from an ongoing consumer shift away from do-it-yourself services as technology loadings in light vehicle systems become more complex.
Demographic changes also contribute to this shift. The graying Baby Boom cohort is increasingly unable to repair their own vehicles, while younger generations tend to be less interested in doing so.
These and other insights are featured in Automotive Repair & Maintenance Services: United States, a report recently released by Freedonia Focus Reports, a division of The Freedonia Group.
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I agree with your heading saying that an increasing number of vehicles will need repairs in the near future. These repairs create a huge number of jobs in the garage and auto parts industry. To bad some of these bureaucrats that want to crush older vehicles could not see this. Not many can afford a new vehicle every 2 or 3 years. Hybrids and electrics are great ideas but are to expensive to buy and maintain.
Retired Mechanic