With more than 242 million vehicles on the roads throughout the U.S. and more drivers choosing to pay for collision-related repairs themselves rather than risking paying higher premiums with their insurance companies, the potential for business and personal success is substantial. In 2008 new car sales declined to 13.2 million vehicles – the lowest sales recorded in 10 years – and 10.9 million in 2009 and 2010 projections show sales of approximately 10 to 11 million. This is good news for the automotive collision and cosmetic repair industry. Today, the average age of a consumer’s vehicle is nine and a half years, meaning people are choosing to hold on to their cars for longer periods of time.
In 2008 the paint, body and equipment segment of the U.S. aftermarket totaled $42.4 billion in repairs, representing a 2.3 percent increase from 2007. Currently, the cosmetic automotive production painting business is nearly a one billion dollar a year industry in the U.S. Repair receipts for the paint, body and equipment industry have increased every year since 1999, despite the number of repair facilities remaining relatively flat.
MAACO is positioned as a recession resistant company as consumer’s need to have their vehicles repaired and painted. Automotive repair and painting is a year-round, moneymaking opportunity. Over the past 10 years, registered vehicles increased by 20 percent, providing greater opportunity for MAACO franchisees.