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 […]
Collision Claims, Frequency and Losses Grow During 1st Half of 2015
Major auto physical damage indicators continue to see increases this year after strong performance in 2014. Losses on collision claims up 8.4 percent during the first half versus a year ago. According to the latest available Fast Track Monitoring system data from the Independent Statistical Service Inc. (ISS), private passenger collision claims and losses continued […]
Traffic Volume Up 2.3% in August
With gas prices declining, record levels of driving were reported and growth continues across all five regions in the U.S. Travel for the month of August is estimated at 277.3 billion vehicle miles nationwide according to the most recent data released by the Federal Highway Administration. The August result continues the good news for the […]