Posted by on 10/4/2019 to GST News
The Car Wash and Auto Detailing industry has experienced strong growth over the five years to 2019, as the economy continued to grow and industry operators reaped the benefits of rising employment and per capita disposable income. Severe drops in oil prices during the early half of the period have also encouraged more consumers to hit the road, as lower gas prices translated to a greater number of cars used. As a result, consumers were more likely to purchase discretionary services, such as car washes and auto detailing. Over the five years to 2019, revenue is anticipated to grow at an annualized rate of 4.0% to $12.3 billion, including an anticipated 2.9% increase in 2019 alone.