FOR IMMEDIATE RELEASE
February 17, 2021
Report on Heavy Duty Repair Market Shows Significant Impact from COVID-19
Survey and Data from TMC, Fullbay Show 54% Decline in Repair Revenues in 2020
Arlington, Virginia – Heavy-duty repair shops saw a significant drop in revenues due to the COVID-19 pandemic according to a new report from American Trucking Associations’ Technology & Maintenance Council and Fullbay.
The first-of-its kind report found that average annual gross revenue per shop was between $500,000 and $2 million; but 54% of respondents said they saw a decrease in revenue in 2020 due to the COVID-19 pandemic.
“The obstacles faced by heavy-duty repair shops aren’t new, but it is obvious that the pandemic presented a whole new set of hurdlers for our industry,” said TMC Executive Director Robert Braswell. “At TMC, we have been helping industry professionals for decades to improve its maintenance and maintenance management. Our Recommended Practices offer the perfect companion to repair shops looking for guidance on dealing with these challenges.”
The heavy-duty repair space also indicated its top three challenges as hiring technicians, inefficiencies in repairs, and properly managing inventory.
“This report gives repair shops great insight and benchmarks to compare against their own business,” said Jacob Findlay, CEO and co-founder of Fullbay. “Our unique blend of qualitative and quantitative data, along with a focus solely on the maintenance of heavy equipment and commercial vehicles, means it’s a true apples to apples comparison.”
The report is based on a combination of survey data from more than 340 Fullbay users and non-users, as well as shop management data from a sample of 250 repair shops that use the Fullbay platform for a full year.
“This report isn’t just something you read and throw away,” Findlay said. “There’s examples and guidance to apply in your day-to-day that will improve your business.”
In addition to the industry data, the report includes recommended practices from both TMC and Fullbay. Industry professionals can download the basic report for free at heavydutyreport.com. A premium version will be made available to TMC members as a member benefit.
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By providing leadership support and opportunities to collaborate, TMC helps members develop the industry’s best practices that address the critical truck technology and maintenance issues that have the greatest impact on truck fleets. For more than 60 years, TMC’s member-driven Recommended Maintenance and Engineering Practices have been setting the standards that help trucking companies specify and maintain their fleets more effectively. Follow TMC on Twitter, LinkedIn and Facebook.
Fullbay provides heavy-duty repair shop management software to streamline workflows and improve efficiency. Launched in 2015, Fullbay helps shops increase technician productivity, invoice faster, better manage parts, connect with other applications, and more. By reducing administrative and management tasks that have slowed down shops for years, Fullbay customers have better-run and more profitable businesses. For more information, visit fullbay.com.
American Trucking Associations is the largest national trade association for the trucking industry. Through a federation of 50 affiliated state trucking associations and industry-related conferences and councils, ATA is the voice of the industry America depends on most to move our nation’s freight. Follow ATA on Twitter or Facebook. Trucking Moves America Forward.