These are very hard times for the American automotive industry, but an exclusive franchise study by Franchise Direct has revealed that automotive franchises are doing well nonetheless. With Americans holding onto their cars for longer than ever before, their analysis of the Franchise Disclosure Documents (FDD’s) of 30 automotive franchises found that more and more drivers are turning to franchises to keep their car on the road.
The endemic problems in America’s car industry have been well-documented. But Franchise Direct’s study has found that the sharp decline of automotive industry, coinciding with America’s worst economic downturn since the Great Depression, has actually created some exciting opportunities for aftermarket and car rental and sales franchises.
The reality is Americans are not buying new cars as regularly as they once did. According to this new automotive franchise study, the projected new car sales for this year are 9.7 million units.