New year, new trends. Check out the following list to help ensure you and your shop are ready for the emerging automotive trends for 2022.
There are many trends that are forecasted to affect the automotive industry in the coming year, namely technology-driven changes. These trends will require shops to adjust their approach to repairs and the technology and equipment required to perform these repairs. See the following list of trends that are anticipated to make waves in the automotive industry in the coming year.
1. Enhanced Electrification and Digitization
With increasingly more digital technologies being implemented into new vehicles, it’s making auto repairs more and more difficult. It has put pressure on shops to upgrade their technology, equipment, and procedures to be able to work on these advanced electronic components. Vehicle owners must feel confident that their local shop is able to access the correct parts and have up-to-date knowledge of procedures to repair their technologically advanced vehicle.
2. Shared Mobility
Popularity of e-hailing, ride-sharing and other similar programs has grown drastically in recent years and the trend does not show any sign of slowing down. Though this would mean that less people are driving their own vehicles, this also means that there are millions of privately-owned service vehicles that will require their local auto shops to have the proper technologies to maintain their vehicle. In fact, this trend is anticipated to expand the automotive industry revenue by 25% (Team Linchpin, 2021).
3. Love of Leasing
Vehicle leasing in the US more than quadrupled (1 million to 4.5 million) between 2009 and 2016 (Team Linchpin, 2021). With the ever-increasing prices of new vehicles, many consumers are opting to lease instead of buy. One of the major attractions of this option, especially for the younger generation who carry significant debt from school and other endeavors, is that they do not have to worry about the costs of maintaining the vehicle. This puts auto shops in a difficult position as individuals are not brining their own vehicle in to be maintained or repaired, however if it is possible to create a partnership with a leasing company, this could be a lucrative opportunity.
4. Better Reliability & Older Vehicles
With vehicles being made to be more and more reliable, it means that new vehicles can go tens of thousands of kilometers before ever needing a service. Though this would initially seem like it would keep vehicles out of the shop, it just means that shops are seeing more older vehicles with higher mileage coming in. Also, accounting for the fact that salvage rates are at record highs, it means that vehicles that previously would’ve been a write off, are now being repaired. This trend can bring some challenges, as it becomes more difficult to find OEM parts for these older vehicles. Finding aftermarket alternatives is sometimes the best option, and Capital Auto Parts can certainly help you in finding the parts you need.
5. Sourcing Challenges
It has gotten very difficult to find the parts you need – when you need them. Thanks to the pandemic, the struggle to find parts has been felt on a global level. It’s important to plan ahead for what you will need for your repair, as the last thing you want is to have a vehicle stuck on a hoist because it’s been taken apart and there was a part missed on the work order that is now backordered for six weeks. At Capital Auto Parts, we are here to help you plan and ensure you order all the parts that you need. And we’re also here for those times when something got missed, and we will do everything we can to find the part for you in a timely manner.
We hope this article helps you prepare your shop for the coming year of industry advancements. Are there any trends you anticipate being gamechangers in 2022 that we missed? Let us know!
Team Linchpin 2021, Trends Transforming The Auto Repair Industry Outlook In 2022, accessed December