The Auto Loan Bubble: Could The Bursting Benefit Your Shop?
In November, it was reported that in the U.S. there is approximately $1.23 trillion in automotive financing debt (traditional loans and leasing) for both new and used vehicles, according to several financial analysts and federal institutions. What is really shocking is that for the past six years, outstanding vehicle debt has risen more than 57 percent. Some people are calling it an “auto loan bubble” that is just starting to burst.
The American Image Problem
I am going to say it, American technicians have a bad image. But, the image is not the reality. Most technicians are electricians, fabricators, engineers, IT troubleshooters and entrepreneurs all rolled into one. But, we are still fighting the image problem with consumers who think anyone can fix a car, or they are too smart to get their hands dirty.
Replacement Auto Part Standards And Regulations
With the recent tariffs going into effect, it has sparked the discussion about regulations for vehicle replacement parts to keep some imported auto parts off the market. Most people think that with a stroke of a pen dangerous and sub-standard parts could be banned and parts quality will be improved overnight. But, what standards should be applied? Who should do the testing? This is where things get tricky.
Need Technicians: $60 – $110K Salary
This job offer for a qualified automotive technician posted on an Internet job site captured my attention. More importantly, did it capture a response for the independent repair shop owner who’s ready to hire? Is the offer an empty promise? The math works with overtime factored, and assuming a shop’s volume provides the technician with
There Is No Trough: Looking For The Sweet Spot In The Aftermarket
If you looked at U.S. car sales over the past 18 years, you would see a pattern. On either end of the chart, you would see years where 17 million vehicles were sold. In the middle is 2009 when sales dropped to 10 million vehicles. After that is a steady nine-year recovery. Some people call this dip “the trough,” and they think it is hurting aftermarket sales. I think it is an opportunity and a sign of the aftermarket’s future.
Virtual Test-Drives Expedite Autonomous Vehicle Platform Certification
While most people are intuitively cautious about new technology, others ask it to do things it was never intended to do. For example, Tesla drivers using the poorly named autopilot have learned a few lessons in asking a system that’s designed to assist – to be the driver.
It Really Isn’t That Bad: Ask Yourself Why You Came To Work This Morning
If you are a regular reader of my columns, you may have noticed that I have been a little negative lately. I have been writing about topics like technician image, unethical shops and other gripes about our industry. Last month, I got a letter from an older tech wanting to get out of the industry because he felt vehicles were getting more complex while monetary compensation was not growing at the same rate. He cited one of my editorials as something that resonated with some of his own grievances. At first, I felt guilty.
Part 2: Creating A Roadmap Of A Technician’s Career
When you look at the staffing issues currently affecting repair shops in either the collision or service space, as if you were an emergency room physician dealing with a patient who is bleeding to death, it is apparent that two life-threatening hemorrhages exist right now that need our attention. Often, it is easy to look at a problem globally. So, we get overwhelmed by the big picture, rather than taking the triage approach of identifying the most pervasive issues. This is where ER doctors, nurses and great diagnostic technicians can be our models for fixing the ails of our industry.
Eliminating The Uphill Battle Of Attracting Customers
Spending your time, money and effort to fill your bays is probably one of the last things you want to be doing with your time right now. But, much like paying taxes, marketing your shop is a necessary evil. After all, customers are the lifeblood of your business.
Four Creative Ways To Improve Employee Morale
Experts say there is a direct relationship between keeping employees happy and getting the best out of them, but improving morale in the shop is a deceptively simple goal. Sometimes, in order to raise morale in the shop, you have to get creative. Here are four areas where business owners can lift employee spirits and create a happier, more productive workforce.
Lessons From A Day Being Out Of My Comfort Zone
Being under the dash or hood of the modern car is my comfort zone, but it doesn’t hurt to get out of that comfort zone. I could use a reminder now and then that what I do for a living isn’t all that bad, and I owe my customers a great deal of gratitude for their patronage and for putting up with this snarly old mechanic.
Why I Hate Some Mobile Mechanics
Mobile technicians have been around since the 1920s. Back then, a mechanic would set up shop on a street corner or vacant lot and put up a sign. Today, mobile technicians put an ad on Craigslist or join an online referral service like Amazon, Otobots.com or YourMechanic.com. Other low-tech mechanics set up in the parking lot of the local auto parts store.