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  • 2024 Industry Survey Report
    1. Running a Shop
    2. Technology

    Numbers: What’s Your Five-Year Investment Plan? 

    March 11, 2024
    As automotive technology advances, here's what services auto repair shop owners expect to add.
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    65eb707153120e001e8a77c6 Ev High Voltage Cables

    According to respondents of the 2023 Ratchet+Wrench Industry Survey Report, over the next five years, 81% said they expect their annual sales to continue to grow with over half of shop owners saying they plan to invest in EV repair. When asked about ADAS investment, only a small percentage of shops were equipped for the service. 

     

    Investment Focus 

    • ADAS: 46% 
    • EVs: 57% 
    • Fleets: 34% 

     

    Is your shop equipped for ADAS work today? 

    • Yes: 16% 
    • No: 84% 
    About the Author

    Chris Jones | Editor

    Chris Jones is the editor of Ratchet+Wrench magazine and host of its companion podcast, Ratchet+Wrench Radio, a weekly show featuring automotive professionals across the auto care landscape.

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