According to report, autonomous vehicles and crash avoidance technologies will shrink collision repair volume.
According to a new report from the KPMG U.S. Manufacturing Institute Automotive Center, original equipment manufacturers (OEMs) will see a substantial, 48 percent, decrease in their collision repair parts business as a result of self-driving cars. KPMG projects that OEM collision repair revenue, which it pegs at $5.6 billion in 2015, could drop to $2.7 billion by 2030 and dwindle to $1.4 billion by 2040.
The new report, Will autonomous vehicles put the brakes on the collision parts business?, notes that despite accounting for less
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