Production employees and hours worked both increase as industry surpasses the prior high recorded in March 2008. An analysis of the latest data released from the U.S. Department of Labor Bureau of Labor Statistics (BLS), shows that total production for the collision repair industry increased in November versus October. More significant is the fact that […]
U.S. Length of Rental Continues Upward Trend in Fourth Quarter
According to the latest research from Enterprise Rent-A-Car, the U.S. average length of rental continued to increase across all regions during Q4 2015. The U.S. average Length of Rental (LOR) rose in 2015 to 11.5 days, up 0.3 days from 2014 and 0.8 days from 2010. Miles driven and lower gasoline prices have contributed to […]
Auto Physical Damage Insurance Underwriting Profit Declining Over Past Decade
Latest statistics from the National Association of Insurance Commissioners indicates that the percentage of premiums going to pay losses increasing. Data contained in the National Association of Insurance Commissioners (NAIC) report on profitability by insurance line in 2014, released on December 31, 2015, illustrates the increasing percentage of underwriting dollars going to pay claims on […]
Collision Repair Industry Production Declines in September
Both production employees and hours worked declined compared to August. However, production remained above 2014 levels. An analysis of the latest data released from the U.S. Department of Labor Bureau of Labor Statistics (BLS), shows that total production for the auto body repair industry was down in September compared to August, but above September 2014. […]
Collision Repair Industry Business Conditions: Q3 2015
Shops reporting higher sales compared to previous year decreased during the third quarter. Repair facilities reporting higher earnings also down. The CollisionWeek quarterly survey of business conditions reported by collision repair facility owners and managers indicates that the overall percentage of facilities with higher sales decreased in the third quarter of 2015 compared to the […]
December Projected as Strongest Month in a Decade for U.S. Auto Sales
2015 Poised to Set New-Vehicle Sales Record of 17.5 Million New light-vehicle sales in December are expected to be the strongest of any month since 2005, with 2015 on track to set an annual record with 17.5 million sales, according to a monthly sales forecast developed jointly by J.D. Power and LMC Automotive. New-vehicle retail […]
Traffic Volume Continues to Increase in October
With gas prices declining, record levels of driving and growth continues across all five regions in the U.S. Travel for the month of October is estimated at 273.5 billion vehicle miles nationwide according to the most recent data released by the Federal Highway Administration. The October5 result continues the good news for the collision repair […]
Wholesale Used Vehicle Prices Up in November versus Previous Month
ADESA Analytical Services reports increasing prices compared to October driven by trucks. Market essentially flat compared to 2014. According to ADESA Analytical Services’ monthly analysis of Wholesale Used Vehicle Prices, November average wholesale prices were up on a month-over-month basis and essentially flat on a year-over-year basis. However, as in previous months, the uptick was […]
New Vehicle Registrations Exceed 17 Million
Experian Automotive today announced that new vehicle registration volumes for light-duty vehicles reached the highest point in the past nine years. During the rolling year from Nov. 1, 2014, through Oct. 31, 2015, there were more than 17 million new vehicles registered within the United States — a metric that hasn’t been achieved since 2006. […]
State Farm’s Market Realignment Impact on Collision Repair Labor Rates
When State Farm announced earlier this year it would realign the local markets it uses to establish labor rates it said the effort might impact prevailing competitive prices paid to collision repair centers. We surveyed repairers to gauge the impact on labor rates and allowances. In July, State Farm announced it was realigning its traditional […]