There are 32,000 auto mechanic businesses that have opened up in the United States since 2018, up 12 percent. Many are chains, many are mom-and-pops and some are mom-and-pops that still operate under one of those chains, in a somewhat unique arrangement that has generally defined the auto repair business. They’re riding two big trends: The first is that vehicles got expensive and so people are driving them longer before buying a replacement, and the second is that vehicles got complex, so there’s more that can go wrong with them. All told, spending on U.S. auto services is projected to grow from $211 billion this year to $280 billion by 2031.
Sharon Terlep, The Wall Street Journal
Via Numlock (substack)