“Labor Rate is only part of the labor sale equation,” AkzoNobel’s Tim Ronak informed attendees during the Alliance of Automotive Service Providers of New Jersey’s (AASP/NJ) virtual meeting on April 28. “Increasing Labor Rate may be valuable, but in many cases, shops are not even writing a fully documented sheet for all justifiable operations.”
The retail rate for collision repair is a shop’s individual posted rate, while a market rate is determined by averaging the retail rates of all shops within the market. In contrast, Ronak defined prevailing rate as “a construct that has evolved as a convenience for communication
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