Changes in Consumer Vehicle Usage and the Impact on Automotive Repair
Summary
The pandemic, changes in retail shopping, inflation and recessionary trends and increased reliance on delivery are resulting changes in vehicle usage. Decreased business volume coupled with increased operating costs have resulted in challenging circumstances for the automotive repair industry. As the pandemic transitions to an endemic (regularly found in the environment) condition the habits that people formed are slow to return to where they were. • Recessionary Trends and Inflation – The imposed shutdowns and subsequent supply chain disruptions brought about government as well as private infusion of money into the economy. To counter the inflationary trends the Federal Reserve Bank enacted a series of interest rate hikes in order to reduce demand.
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