The automotive aftermarket can expect to continue to see a healthy business for the foreseeable future.
The increased cost of living has put families in tight financial positions and vehicle owners are opting to take better care of their cars by investing in them so they can hang on to them longer, according to a survey from the British Columbia Automobile Association.
Seven in 10 B.C. drivers reported on the survey that the high cost of living and economic uncertainty has them keeping their current vehicle for much longer than they planned. Even though mony is tight, they’re opting to repair, rather than replace.
In fact, they’re more attuned to maintenance these days. Almost half (49 per cent) admitted to skipping recommended vehicle maintenance and repairs in the past due to costs. But more than four in five (83 per cent) said they can’t risk being without their vehicle as a result of a breakdown.
Furthermore, 93 per cent of respondents agreed it’s worthwhile to get the most out of their vehicle even if they consider it costly to maintain.
Drivers are taking action as three-quarters (78 per cent) said they’ve already had their vehicles serviced for the winter season or are expecting to do so very soon.
Anecdotally, shop owners have told AutoServiceWorld.com that they are consistently busy these days. That backs up observations from Keith Berry, regional manager for BCAA Auto Repair and Maintenance. He noted that BCAA Auto Service Centres in Victoria, Nanaimo, Surrey and Kelowna have all reported significant jumps in customer bookings this year.
“We’re seeing people we haven’t seen in a long time, and they’re telling us that their days of skipping regular vehicle servicing are over,” he said. “Economic uncertainty seems to be a wake-up call for many drivers to take care of their vehicles and keep them reliable.”