Study: DIY Increases as Repair Industry Rebounds from Recession
Feb. 17, 2014—IBISWorld, an independent market and industry researcher, reports that the auto mechanical repair industry is improving, but more consumers are taking repairs into their own hands.
Industry sales have been rebounding since 2010 with industry revenue increasing at an annual rate of roughly 3.2 percent since 2009. The report stated that less vehicle registrations during the recession led to the lower demand for repairs but also an increase in sales for auto parts stores.
In spite of the increased do-it-yourself repairs, a revenue increase of 2.1 percent is expected this year for the auto repair industry.
The research company does expect consolidation to remain prevalent in the the industry as it moves forward. The last five years have seen the number of “industry enterprises” remain flat at 86,597.