The shift to electric vehicles (EVs) is likely to have a significant impact on the auto repair industry. EVs have fewer mechanical components compared to traditional gasoline-powered vehicles, leading to less need for maintenance and repair services. However, as the number of EVs on the road continues to grow, new business opportunities will emerge for auto repair shops that specialize in EV repair and maintenance. The shift to EVs will require new skills and training for technicians and will also likely lead to changes in the parts and equipment needed for repair and maintenance. Overall, the transition to EVs will require the auto repair industry to adapt and evolve, but it will also offer new opportunities for growth.
The electric vehicle (EV) industry has experienced significant growth in recent years, driven by factors such as increasing consumer interest, advancements in battery technology, and government incentives.
According to the International Energy Agency (IEA), global EV sales reached over 2 million units in 2019, with China being the largest market. The IEA also estimates that the global stock of EVs on the road reached 7.2 million in 2019.
In the United States, the EV market has grown rapidly in recent years, with the number of EVs on the road increasing from just over 17,000 in 2011 to over 700,000 in 2018. This represents a compound annual growth rate of around 60%.
Overall, the growth of the EV industry is expected to continue as battery technology improves, costs come down, and consumer interest in sustainable transportation options increases.