Australia Industry Report Now Updated by IBISWorld
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Vehicle Body, Paint and Interior Repair in Australia Industry Report Now Updated by IBISWorld

A combination of safer new vehicles and more risk-averse drivers has reduced vehicle accidents and decreased demand for the industry’s services.

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According to IBISWorld industry analyst David Whytcross, “A combination of safer new vehicles and more risk-averse drivers has reduced vehicle accidents and decreased demand for the industry’s services.” New car sales have remained strong following a big spike after the global financial crisis, meaning that more consumers drive vehicles with advanced safety features. As fewer consumers have traded in or disposed of their older vehicles, the average age of the domestic vehicle fleet has remained stable over the past five years. However, the increasing modernity of the vehicle fleet has meant that more vehicles have improved safety features, reducing collisions. As a result of these factors, industry revenue is forecast to fall by a compound annual rate of 0.2 percent over the five years through 2014-15, to be worth $7.1 billion.

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Read the full story at prweb.com.

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