Capricorn has completed the company’s second detailed industry study, the Capricorn State of the Nation 2021 report. This detailed industry report provides information and recommendations that have been developed from the contributions of Capricorn member businesses across the entire automotive service industry. Respondents included general automotive repairers, commercial and heavy duty vehicle specialists, auto electricians and collision repairers.
A representative group of over 2,000 Capricorn members, from Australia and New Zealand, took part in this report, which provides up to date industry information all automotive service and repair business owners and operators can benefit. One issue highlighted in the report was investment in automotive diagnostic technology tools in line with the advanced electronic sophistication of today’s cars, an important consideration for industry participants wanting to grow and improve businesses in the coming years.
Thirty seven per cent of Capricorn members are now always charging a fee for the time taken to diagnose problems, which represents a 4% increase since the inaugural report last year.
Two out of five Capricorn Members are also now using software to measure and track operational efficiency, representing a 9% increase from 2020. Tracking efficiency is important in accurately estimating, quoting and charging for service and repairs and can therefore have an impact on business profitability. While these business developments are very positive, the report outlines that the majority of respondents are not currently factoring in fees for diagnostic scanning or using tools to track efficiencies.
The report also found that Australian Capricorn members were more than twice as likely to use business tracking and efficiency software compared to their trans-Tasman counterparts. However, the report also found that 61% of Capricorn members plan to improve their business efficiency and growth across the next 12 months.
Twenty six per cent of respondents are updating diagnostic equipment every six months to ensure that they remain up to date with the vast number of makes and models being driven on Australian and New Zealand’s roads.
The Capricorn State of the Nation 2021 report provides solid information for business development, being one the most current snapshots of the total Australian and New Zealand automotive service industry.
This report is freely available to the Australian and New Zealand automotive trade, including non-Capricorn members.