U.S. Auto Repair Industry
Statistics And Trends in 2023
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%