As the average age of cars on the road reaches 12.6 years, the financial burden of maintaining these vehicles is becoming increasingly significant.
The average repair costs for cars older than 10 years stand at approximately $610. This figure reflects the growing complexity of automotive technology and the wear and tear that accumulates over time. Additionally, for cars that have traveled more than 100,000 miles, the average repair costs escalate to over $692. These costs can be attributed to several factors, including the need for more frequent maintenance, the replacement of aging parts, and the potential for more significant mechanical issues as the vehicle ages.
It is not surprising that more car owners are becoming frustrated with the cost of repair and maintenance. We saw the average cost of a repair order drop from $562 in 2023 to $518 in 2024 before people traded that car on something newer. People do not like paying multiple repair orders over $500 in a row!
Are you doing anything to stay in front of these customers? There is a lot of gold in your service drive and FRIKINtech can help.
