proliferation of EVs) where a new vehicle will need little to no traditional maintenance work at all. Yes, even the oil change in an internal combustion engine vehicle could go away or become so insignificant that it will no longer provide the trigger for a customer visit. A SNAPSHOT OF A DEALER'S FUTURE SERVICE BUSINESS So, what DOES the future of a dealer's service business look like? I say that the answer is right in front of you- literally. Here is a challenge for you and every dealer: The next time you are driving to your dealership, take note of every business you see that is catering to automotive service needs. They are all around your dealership (by design) and they represent your future. Dealers need to realize that there are billions of dollars being spent on vehicles every year that are not being spent at the dealership. Considering that traditional dealers sell 100 percent of the new vehicles, plus many of the used ones, this is a billion-dollar business to re-capture. It breaks down into two major categories: MARCH APRIL 2022 || FIXED OPS MAGAZINE 1. Beautification and personalization 2. Wear-item repairs Most dealers do some of this work already. But it is often an afterthought-done only when the consumer asks for it. This type of work must become a substantial component of your business if you are going to survive this next shift. And, the good news is, the opportunity is huge. * $324 billion = the size of the car and light-dutytruck aftermarket* * Over $80 billion in growth over the last decade alone* * $32 billion = the size of the replacement-tire market in the U.S.** * $41 billion = the size of the vehicle-customization market in the U.S.*** Let's look more closely at the two business categories. 61