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Auto Repair Shops Find Economic Fix

Posted by Dennis Romero | March 9, 2009
URL: http://www.entrepreneur.com/blog/218391
auto-repair.jpgDetroit might be a bust, but auto repair shops are doing just fine, according to small business data tracker BizEquity.

The firm states that repair and maintenance facilities have grown in value since mid-year 2008, by $4.578 billion and $1.321 billion respectively. Compare that to a nearly $8 billion deflation for new car dealers since mid-year, according to BizEquity.

The firm states there are 717,712 small businesses in the auto industry worth more than $123 billion. It appears that, as people avoid buying new cars, they're keeping what they have tuned up and ready for the road.