With over 30,000 Members across Australia and New Zealand, Capricorn is uniquely positioned to share the perspective of business owners in the automotive aftermarket industry, capturing how they’re feeling about an industry that keeps millions of motor vehicles safely on our roads and in our communities.
“The Capricorn Confidence Index is a barometer for the health of the automotive aftermarket industry, and we believe it’s the most accurate measure of business owners’ confidence in the future of the automotive aftermarket,” Brad Gannon, Capricorn's Incoming Group CEO says.
“Business and industry confidence is often used as an indicator of the overall condition of an industry and is a helpful tool in anticipating and preparing for future challenges.”
The Capricorn Confidence Index combines the responses to three questions, confidence in the automotive industry, confidence in their own business’ future and plans for business growth, to calculate a single score out of 100 points. This score reflects the overall business outlook of respondents, and with four years of data and insight, offers Capricorn and the automotive industry a stable and reliable metric.
In 2024, the Capricorn Confidence Index for New Zealand held steady at 68.0 points, mirroring its position in 2021 (68.3 points). This stability indicates a belief among business owners for potential for recovery and growth within the industry regardless of the current economic climate.
“We are pleased to be able to publish the Index, and hope our Members, Preferred Suppliers and the wider automotive community will find this measure of confidence in our sector useful in the years to come,” shares Brad.
“At Capricorn, we take great pride in working in an industry that is prepared to tackle the future, whatever it may be, with enthusiasm and optimism.”
The State of the Nation report is a resource for anyone interested in automotive and mobility in New Zealand. The data shows that New Zealand business owners in the automotive industry are not only resilient but look forward to the industry’s growth and future.
You can read more about the Capricorn Confidence Index in the 2024 State of the Nation report cap.coop/SOTN.
For further information contact media@capricorn.coop or +61 455 731 955.
About Capricorn
Capricorn Society was established in 1974 to support small business owners in the automotive aftermarket. Now 50 years later, Capricorn has over 30,000 Members across Australia and New Zealand including mechanical workshops, collision repairers and auto electricians.
Capricorn offers a range of competitive financial services products, including its flagship Trade Account that connects Members with over 2,000 Preferred Suppliers.
Proudly operating by cooperative principles, Capricorn Members also have access to risk protection, exclusive industry events and a generous Capricorn Rewards Program. For more information and terms and conditions, visit capricorn.coop.