Fullbay survey: Heavy-duty repair shop profits and revenue rose in 2022

Fullbay survey: Heavy-duty repair shop profits and revenue rose in 2022

In 2020, 20% of shops didn’t know their net profit, but that number dropped to 10% in the 2022 study.

Fullbay recently completed a study on heavy-duty repair shop profits and revenue, which the company shared in its State of Heavy-Duty Repair Report. The 2022 study of more than 1,600 individuals from the commercial freight, logistics and repair industries reported that 52% of repair shops reported a net profit of 11% to 30%. In 2020, 20% of shops didn’t know their net profit, but that number dropped to 10% in the 2022 study.

According to company findings, 25% of shops surveyed were grossing between $1 to $2 million each year, while 17% reported revenue between $250,000 and $500,000. According to the data, most shops that crossed the $2 million mark were at least 16 years old.

According to Fullbay, the data suggests that, generally speaking, more services – encompassing any repair or maintenance service like mobile repairs, tire repair, and welding/fabrication, among others – offer a route to more revenue. While shops offering only one service see average gross revenues between $250,000 to $2 million, 28% of shops offering seven services crossed into the $4 million-plus revenue threshold.

Shops also generally saw revenue increase as they added technicians. Growing from three to four technicians will yield a 40% increase in revenue, for example.

You May Also Like

Scania opens orders for autonomous mining trucks

Scania’s 40-tonne autonomous heavy tipper for mining available to order, and the 50-tonne model to follow shortly afterwards.

Scania-autonomous-mining-truck

Scania announced that it has begun selling autonomous mining trucks, with s 40-tonne autonomous heavy tipper for mining available to order, and the 50-tonne model to follow shortly afterwards.

Sales of Scania autonomous mining solutions will start in Australia, with first deliveries and start of operation scheduled from 2026. Scania believes the next market will likely be Latin America, a region where it has significant market presence in the mining segment. 

FTR: Truck orders exceed recent trends in May; vocational sales stand out

Not only are orders up m/m and y/y, FTR said this level is above recent demand trends and 2% above the average for May over the past decade.

FTR-May-Preliminary-Class-8-orders
PACCAR MX-13 CARB compliant engine available in Peterbilt 579, 567, 589

The PACCAR MX-13 diesel engine meets the CARB Omnibus Regulation and is available in high performance or efficiency focused ratings.

Cummins, PACCAR, Daimler Truck N.A. complete joint venture formation

The completed joint venture is now known as Amplify Cell Technologies.

Accelera-Daimler-Paccar
FTR sees rise in April trailer orders

With 13,016 units sold, April saw 9% m/m and 45% y/y gains. However, trailer orders were still 20% below the average for the last 12 months.

FTR-april-trailer-orders-chart

Other Posts

FTR: Neutral outlook despite Shippers Conditions Index improvements

Stable diesel prices and slightly more favorable rates resulted in a better market for shippers in March, but conditions may deteriorate soon.

FTR-Shippers-Condition-Index-March-chart
Food Forward Inc. uses Volvo VNR electric to fight food insecurity

Food Forward says food insecurity and climate change are interconnected global issues, and this move helps address both at once.

Food-Forward-Volvo-VNR-Electric
Daimler Truck N.A. to add EV training center, engineering facility to Oregon HQ

The investments include a new Electric Vehicle Supply Equipment (EVSE) training center, and a new engineering facility.

Daimler-Portland-HQ-Clean-Transport-investments
AiLO places 100-truck order of Nikola hydrogen FCEVs

Scheduled to start delivery in 2025, Nikola says this new order is for double the amount of trucks AiLO ordered in 2024.

Nikola-AiLO-Logistics