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About the Auto Industry
Meineke operates in a needs-based industry with high demand. In today’s economy, investing in a growing industry is essential, and the automotive industry, which has grown significantly since 2000, is projected to continue rapid growth for the next 10 years and beyond. This is due in part to consumers holding on to their cars for longer periods of time and increasing miles driven, which results in increased maintenance and repairs. The industry is primarily comprised of thousands of small chains and mom-and-pop operators, but favors large players due to economies of scale, support structures, and marketing pull.
Coinciding with the growing automotive aftermarket, the Meineke Car Care franchise has also realized positive same-store sales growth since 2009. Even during the economic downturn, Meineke’s systemwide sales continued to grow, which shows the auto industry is recession-proof.