Numbers: What’s Your Five-Year Investment Plan?

March 11, 2024

As automotive technology advances, here's what services auto repair shop owners expect to add.

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According to respondents of the 2023 Ratchet+Wrench Industry Survey Report, over the next five years, 81% said they expect their annual sales to continue to grow with over half of shop owners saying they plan to invest in EV repair. When asked about ADAS investment, only a small percentage of shops were equipped for the service.

Investment Focus

ADAS: 46%
EVs: 57%
Fleets: 34%

Is your shop equipped for ADAS work today?

Yes: 16%
No: 84%

About the Author

Chris Jones | Editor

Chris Jones is Group Editorial Director for the Vehicle Repair Group at Endeavor Business Media. He’s a multiple-award-winning editor and journalist and a certified project manager now providing editorial leadership and brand strategy for the auto care industry's most trusted automotive repair publications—Ratchet+Wrench, Modern Tire Dealer, National Oil & Lube News, FenderBender, ABRN, Professional Distributor, PTEN, Motor Age, and Aftermarket Business World.