Auto Franchises – Post Recession Trends
New car sales are up but the post-recession trend of consumers keeping their cars longer continues according to The NPD Group. The NPD’s car care research revealed that among the consumers purchasing automotive products or repair services, 59 percent said that their purchase was for a car eight years or older. It also revealed that 19 percent purchased for a car 15 years and older.
What’s this mean for auto franchises? Well, it’s actually good news. Car franchises mostly serve the aftermarket auto niche. They focus on collision repair, painting and maintenance as proven by some of the more popular franchise opportunities in this industry. This trend is predicted to continue even longer since the NPD’s research also finds that the same car owners keeping their older cars, plan to keep them for an average of 5 more years.
So if you have been thinking about owning a car franchise – check out your options of auto franchises to buy today. Data is suggesting it is a good time to invest in this industry!
