The Auto Care Association has released its 32 annual Auto Care Factbook. Also known as the “industry bible” or the “almanac of the industry” the 2023 Factbook has been expanded and updated to include highlights on:
- E-commerce return rates
- Electric vehicle adoption
- Collison industry metrics
- Tool and equipment sales growth
- Replacement rate data
- Examinations of international markets including Canada, Mexico, Bolivia, and Colombia
The Factbook also includes access to interactive, up-to-date economic and industry indicator data via Auto Care Association’s TrendLens platform.
When viewing the Factbook online readers are able to use this URL Autocare.org/factbookbyrole to break down the book’s information according to their role in the industry. This means that as a small business owner, investor/industry analyst, production leader, sales/marketing person, etc. readers will be provided a bundle of specific pages to visit that will be of the most interest to them.
What to check out as a shop owner
1. Technician employment and wages
This section goes over the increase in technician employment in 2021, the demand for technicians, and projected growth in employment for techs from 2020-2030, as well as looks at the increase in technicians’ wages for 2021.
For example, the Bureau of Labor Statistics projects a 0.3 percent growth in employment for technicians from 2020-2030.
2. Auto care industry sale history and forecast
This section gives the year-over-year percent change in sales for everything from general automotive repair to automotive parts and accessories stores to new car dealers, as well as the estimated sales in the industry through 2025.
For example, sales in general automotive repairs made up 4.9 percent of repair shop sales from 2017-2021, and it's estimated that between 2020-2025 these sales will reach 6.7 percent.
3. Key technology trends in the aftermarket
This section looks at connected automotive devices and EV penetration in the industry, giving an overview of what’s most important now and the projected importance a few years ahead.
For example, electric vehicle penetration in North America in 2021 is at 3.3 percent, and it is forecasted to climb to 14 percent by 2025.
4. Consumer profiles (DIY and Do It For Me – DIFM)
These sections give a breakdown of gender, age, education, occupation, household income, miles driven, vehicle type, and average vehicle age of both consumers.
For example, DIFM consumers who service their vehicles at a new car dealership are more likely to be 60+ years old, college educated, have annual household incomes of $75,000 and higher, and have less than 100,000 miles on their vehicle.
5. Tool and equipment sales
This section provides an overview of the growth in tool and equipment sales in categories ranging from A/C tools and equipment to tool storage to welding and exhaust equipment.
For example, according to Lan Marketing Resouces, Inc. sales of electronic diagnostic and shop environment equipment grew at the highest rates in 2021 -- 13.9 percent and 13.6 percent respectively. On the tool side, however, specialty, A/C, diagnostic handheld and power tools, as well as tool storage, all grew by more than 10 percent in 2021.
How to access the Factbook
If you have an Auto Care Association account, simply log in and follow this link digital.autocare.org/2023factbook. If you don’t have an account, then you’ll need to create one in order to view the 2023 Factbook. You can create an account by following this link.
