Moving Forward! Good News Ahead!
Moving Forward
We are currently in a season of uncertainty and uncharted territory, a time like no one has seen before. Mass closures across the entire United States and across the globe - from schools, restaurants to retail shops, and even just being able to hang out with friends and have playdates with children. So many things have come to an abrupt halt. We all see the hourly, daily, and weekly news on the Coronavirus. It’s everywhere from every radio station, tv, newspapers, social media, and even brief discussions happening between fellow shoppers at grocery stores braving the threat of sickness to get food and maintain some normalcy for their family.
California has the most radical closures, with other states starting to follow suit, where only essential businesses and services can remain open. Healthcare, first responders, grocery stores and banks are some of the services that stay open. That way everyone else has a hospital to go to, food to buy and an ambulance or fire truck when needed. There are many other necessary businesses that need to remain open even during mass closures.
Did you know that automotive supply stores and automotive repair facilities are considered an essential business?
Looking back at articles during, soon after, and even 10 years after the 2008 recession, shows promising news for auto repair facilities during this pandemic. Car owners kept their older cars longer and fixed them up. They even got the cars out of their backyard and fixed ones that had been sitting for long periods of time. During this time, they did the necessary maintenance more regularly, kept their vehicles in better shape and also made larger repairs such as replacing an engine or transmission. Some people had been putting off getting them repaired, while others were holding out for new vehicles. Unfortunately, new vehicle sales did drop, so not everyone in the automotive industry fared the same.
Good news ahead for the automotive repair industry!
Although, this blip in time may not be considered a recession, it will leave its imprint. How we handle these next few months will be quite the history lesson in a few years.
“Auto Repair Services are a sure guarantee to provide good returns during a recession. The last thing people want to do during a recession is to make a large purchase like a car. They try to keep their current cars running instead.” (https://www.google.com/amp/s/
Fortunately, not everything that is happening is negative. Let’s keep talking about the automotive industry. Recent articles since Coronavirus emerged, have shown that automotive repair shops may be more important than ever.
“As travel options such as flying and public transportation are becoming limited, people are even more dependent on their vehicles for work and to take care of their daily lives,” said Farzam Afshar, CEO of VeriFacts Automotive. (https://www.verifactsauto.
During these uncertain times, we hope this information will help you sleep a little better if you own an auto parts store or an automotive repair facility.
“Tom Hollinshead Jr., said he’s seen a tremendous increase in the amount of people pumping money into their current vehicles. People are keeping their cars a lot longer than what they had in the past. Older vehicles that would only be valued at $2,000 or $3,000 ... people are going ahead and putting a motor in that car, because they’d rather keep it than go out and buy a new one.” (https://www.google.com/
One last positive note!
“Throughout times of both prosperity and recession, the automotive repair industry has thrived. The reason why is simple: Americans rely on their cars. Maintaining and repairing our vehicles isn't an extravagance—it's often a necessity.” https://www.