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With the rising popularity of electric vehicles and ride-sharing companies, the demand for traditional car repair and maintenance is going down.
ST PHOTO: LIM YAOHUI
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A friend of mine who owns a car servicing and repair company asked me in 2024 for advice on what new business he should switch to. When I said “Why do you ask, when you already have one?”, he replied: “Because this is a sunset business.”
He explained that with the rising popularity of electric vehicles (EVs) which need less servicing and repair, and the expansion of ride-sharing companies, which have their own car servicing arrangements, the demand for traditional car repair and maintenance, which his company offers, is going down. “We already feel it,” he said.
