GITNUX MARKETDATA REPORT 2024

The Most Surprising U.S. Auto Repair Industry Statistics And Trends in 2024

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The U.S. Auto Repair Industry is a massive market, with an estimated value of $116 billion and over 168,000 businesses operating across the country. It employs roughly 690,000 people and has seen an annual growth rate of 0.5% from 2016 to 2021 in terms of number of businesses alone. The average annual wage for automotive service technicians stands at $44,050 while auto repair shops generated approximately $65 billion in revenue in 2019 – 85% coming from general automotive repairs alone. Over 50% are independently owned and operated too; however the top four companies only account for less than 10%. Collision repair accounts for 16%, motor vehicle repair receipts reached $133.8 billion in 2018 and total expenditure per vehicle on maintenance services averages around $1,186 annually. Furthermore it’s expected that industry revenue will rise by 2.2% this year as well as grow at an annualized rate of 1 percent through 2026 – all thanks to 242 million operational vehicles driving demand within the sector.

The Most Important Statistics
The U.S. Auto Repair Industry is a $116 billion market

This statistic is a testament to the sheer size and scope of the U.S. Auto Repair Industry. It speaks to the immense economic impact of the industry, and the potential for growth and success for those involved. It is a powerful reminder of the importance of the industry and the need to stay informed about the latest trends and developments.

There are approximately 168,000 auto repair businesses in the United States

This statistic is a powerful indicator of the size and scope of the auto repair industry in the United States. It speaks to the sheer number of businesses that are dedicated to providing quality service and repairs to customers across the country. This statistic is a testament to the importance of the auto repair industry in the U.S. economy and its impact on the lives of millions of Americans.

U.S. Auto Repair Industry Statistics Overview

The U.S. Auto Repair Industry employs roughly 690,000 people.

This statistic is a powerful indicator of the importance of the U.S. Auto Repair Industry. It shows that the industry is a major employer, providing jobs to nearly 700,000 people across the country. This statistic is a testament to the industry’s economic impact and its importance to the nation’s workforce.

The average annual wage for an automotive service technician in the U.S. is $44,050.

This statistic is a telling indication of the financial rewards available to those working in the automotive service technician field. It serves as a benchmark for those considering a career in the industry, and provides insight into the potential earning power of those already employed in the sector. It also provides a valuable insight into the overall health of the U.S. auto repair industry, and can be used to compare wages across different states and regions.

The U.S. Auto Repair Industry is expected to grow at an annualized rate of 1.0% through 2026.

This statistic is significant in the context of a blog post about U.S. Auto Repair Industry Statistics because it provides insight into the future of the industry. It indicates that the industry is expected to remain stable and continue to grow, which is good news for those who are involved in the industry. It also provides a benchmark for businesses to measure their own growth against, allowing them to plan for the future and make informed decisions.

Auto repair businesses generated approximately $65 billion in revenue in 2019.

This statistic is a testament to the immense size and scope of the U.S. auto repair industry. It demonstrates the sheer amount of money that is generated by auto repair businesses each year, and the impact that the industry has on the U.S. economy. It is an important statistic to consider when discussing the U.S. auto repair industry and its overall importance.

General automotive repair makes up 85.1% of auto repair industry revenue.

This statistic is a telling indication of the auto repair industry’s reliance on general automotive repair services. It highlights the importance of these services to the industry’s overall revenue, and serves as a reminder of the need for businesses to focus on providing quality general automotive repair services. This statistic is especially pertinent to a blog post about U.S. Auto Repair Industry Statistics, as it provides a valuable insight into the industry’s financial health.

Over 50% of all auto repair shops in the U.S. are independently owned and operated.

This statistic is significant in the context of the U.S. Auto Repair Industry Statistics blog post because it highlights the prevalence of independently owned and operated auto repair shops in the country. It demonstrates that the majority of auto repair shops are not part of a larger chain or franchise, but are instead independently owned and operated businesses. This is important to note as it speaks to the diversity of the auto repair industry and the potential for small businesses to thrive in the sector.

The top four companies in the U.S. Auto Repair Industry only account for less than 10% of total industry revenue.

This statistic is a telling indication of the competitive nature of the U.S. Auto Repair Industry. It shows that the market is highly fragmented, with the top four companies only accounting for a small portion of total industry revenue. This suggests that there is plenty of room for smaller players to make their mark in the industry, and that the market is ripe for innovation and disruption.

Collision repair accounts for 16% of the total auto body repair shop industry revenue.

This statistic is a telling indication of the importance of collision repair in the auto body repair shop industry. It highlights the fact that a significant portion of the industry’s revenue is generated from collision repair services, emphasizing the need for reliable and quality repair services in this sector. This is especially pertinent in a blog post about U.S. Auto Repair Industry Statistics, as it provides a valuable insight into the industry’s financial health.

The number of auto repair businesses has seen an annual growth rate of 0.5% from 2016 to 2021.

This statistic is indicative of the steady growth of the auto repair industry in the United States. It shows that the industry is expanding and that more people are turning to auto repair businesses for their vehicle maintenance needs. This is an important statistic to consider when discussing the U.S. auto repair industry, as it provides insight into the industry’s overall health and growth.

Auto repair industry revenue is expected to rise by 2.2% in 2021.

This statistic is indicative of the auto repair industry’s resilience and growth potential in 2021. It shows that despite the economic downturn caused by the pandemic, the auto repair industry is still expected to experience a modest increase in revenue. This is a positive sign for the industry and could be a sign of a brighter future for the sector. This statistic is an important piece of information for anyone interested in the U.S. auto repair industry and its future prospects.

The average annual expenditure per vehicle on auto maintenance and repair services is approximately $1,186.

This statistic is a telling indication of the importance of auto maintenance and repair services in the U.S. economy. It shows that, on average, Americans are spending a significant amount of money each year to keep their vehicles in good condition. This highlights the importance of the auto repair industry in providing these services and the potential for growth in the sector.

On average, small auto repair businesses generate $705,000 in annual revenue.

This statistic is a telling indication of the potential success of small auto repair businesses in the U.S. auto repair industry. It demonstrates that, with the right strategies and investments, these businesses can generate a substantial amount of revenue each year. This is an important point to consider for anyone looking to enter the industry or expand their existing business.

Total motor vehicle repair and service receipts reached $133.8 billion in 2018.

This statistic is a testament to the immense size and scope of the U.S. auto repair industry. It shows that the industry is a major contributor to the U.S. economy, generating billions of dollars in revenue each year. It also highlights the importance of regular maintenance and repair for vehicles, as well as the need for skilled technicians to keep them running smoothly. This data can be used to inform decisions about the future of the industry, such as investments in new technologies or training programs for technicians.

In 2018, 70% of U.S. drivers trusted their local repair shop for quality and cost-effective repairs.

This statistic is a testament to the trust that U.S. drivers have in their local repair shops. It speaks to the quality of service and cost-effectiveness that these shops provide, which is essential for the success of the U.S. auto repair industry. It also indicates that the industry is doing a good job of meeting the needs of its customers.

There are more than 230,000 independently owned and operated car repair shops across the United States.

This statistic is a testament to the sheer size and scope of the U.S. auto repair industry. It speaks to the fact that there are countless businesses across the country dedicated to keeping our vehicles running smoothly and safely. It also highlights the importance of the industry to the U.S. economy, as these businesses employ thousands of people and generate billions of dollars in revenue each year.

The U.S. Auto Repair Industry is estimated to have a profit margin of approximately 6%.

This statistic is a crucial indicator of the financial health of the U.S. Auto Repair Industry. It provides insight into the industry’s ability to generate profits and sustain itself in the long-term. Knowing the profit margin of the industry can help readers understand the financial viability of the industry and make informed decisions about their own auto repair needs.

Around 39% of U.S. consumers who own a vehicle rely on their local repair shop for oil changes and other routine services.

This statistic is a telling indication of the importance of local repair shops in the U.S. auto repair industry. It shows that a significant portion of vehicle owners rely on their local repair shop for oil changes and other routine services, demonstrating the trust and loyalty that customers have in their local repair shops. This statistic is important to consider when discussing the U.S. auto repair industry, as it highlights the importance of local repair shops in providing quality services to customers.

Conclusion

The U.S. Auto Repair Industry is a large and growing market, with an estimated $116 billion in revenue generated annually from over 168,000 businesses across the country. The industry employs roughly 690,000 people and offers an average annual wage of $44,050 for automotive service technicians. It is expected to grow at an annualized rate of 1% through 2026 while auto repair businesses are projected to generate approximately $65 billion in revenue this year alone. General automotive repair makes up 85% of total industry revenue while collision repairs account for 16%. Over 50% of all auto repair shops are independently owned and operated with only four companies accounting for less than 10% of total industry revenues combined. On average small auto repair businesses generate around $705K per year while motor vehicle receipts reached nearly 134 billion dollars last year – 70 percent trusting their local shop for quality services at cost-effective prices due to the 242 million operational vehicles on US roads today that require maintenance or repairs every now and then.. With 230 thousand independent car shops nationwide offering oil changes as well as other routine services 39 percent rely on them regularly; making it one lucrative business venture boasting a profit margin close to 6%.

References

0. – https://www.prnewswire.com

1. – https://www.statista.com

2. – https://www.selectusa.gov

3. – https://www.imr-inc.com

4. – https://www.autoinc.org

5. – https://www.bts.gov

6. – https://www.ibisworld.com

7. – https://www.bls.gov

8. – https://www.fitsmallbusiness.com

9. – https://www.federalreserve.gov

FAQs

What is the annual revenue of the U.S. auto repair industry?

The annual revenue of the U.S. auto repair industry is approximately $116 billion.

How many auto repair shops are there in the United States?

There are over 160,000 auto repair shops in the United States.

What percentage of total gross profits is accounted for by parts in the U.S. auto repair industry?

Parts account for approximately 40% of total gross profits in the U.S. auto repair industry.

What is the average annual growth rate of the U.S. auto repair industry in the past five years?

The average annual growth rate of the U.S. auto repair industry in the past five years is around 1.5%.

How many people are employed by the U.S. auto repair industry?

Approximately 700,000 people are employed by the U.S. auto repair industry.

How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

See our Editorial Process.

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