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You are here: Home / Archives for Inflation

PPG CEO Details Inflation’s Impact on Coatings Business in CNBC Interview

May 13, 2022 By CollisionWeek Editor Leave a Comment

In an interview yesterday morning on CNBC embedded below, Michael McGarry, chairman and CEO of paint supplier PPG, detailed the dramatic impact of inflation on its business and how the company plans to counter it.   McGarry explained that the company experienced 25% cost inflation in the U.S. during the first quarter. Asked by CNBC […]

Filed Under: News Tagged With: Inflation, PPG Industries

NADA Issues U.S. Auto Sales and Economic Analysis Following First Quarter 2022

April 8, 2022 By CollisionWeek Editor

Dealer association chief economist examines economic trends influencing auto industry. The National Automobile Dealers Association (NADA) has issued its analysis of U.S. auto sales and the economy following the end of the first quarter of 2022. “Inventory remains the biggest impediment related to U.S. auto sales,” said NADA chief economist Patrick Manzi. “And unfortunately, inventory […]

Filed Under: News Tagged With: Inflation, National Automobile Dealers Association, New Vehicle Sales

Consumer Sentiment Declined in March on Inflation Concerns

March 28, 2022 By CollisionWeek Editor

Consumers worried about inflation impact on real income. Strong employment views believed will support continued consumer spending. Consumer sentiment declined in March due to falling inflation-adjusted incomes, which was recently accelerated by rising fuel prices, according to the University of Michigan Surveys of Consumers. The Consumer Sentiment Index fell to 59.4 in the March 2022 […]

Filed Under: News Tagged With: Consumer Sentiment, Inflation, University of Michigan

AutoClaims Direct Adds Per Assignment Fuel Credit to Help Appraiser Partners Battle Increasing Fuel Costs

March 17, 2022 By CollisionWeek Editor

AutoClaims Direct (ACD) announced a proactive measure put in place to counter the impact of rising fuel costs on its nationwide network of independent appraisers. “Beginning Wednesday, March 23, 2022 our network appraisers will receive a per assignment fuel credit that will help offset the increasing fuel prices,” announced Ernie Bray, CEO of ACD. “We’re […]

Filed Under: News Tagged With: ACD, Inflation

Insurance Association Reports Detail Skyrocketing Inflation Impacting Insurance Costs and Claims Times for Consumers

March 8, 2022 By CollisionWeek Editor

The American Property Casualty Insurance Association details how riskier driving habits and rising costs are impacting auto and property insurance and driving higher rates. Facing the fastest rise in inflation since the 1980s, along with rising auto and homeowners insurance losses and supply chain disruptions, insurers and consumers are experiencing strong upward pressure on insurance […]

Filed Under: News Tagged With: American Property Casualty Insurance Association, Claim Frequency, Claim Severity, Inflation

Small Business Owner Optimism Down in January

February 10, 2022 By CollisionWeek Editor

Inflation reported as biggest problem, highest since 1981. The National Federation of Independent Business (NFIB) Small Business Optimism Index decreased slightly in January to 97.1, down 1.8 points from December. Inflation remains a problem for small businesses as 22% of owners reported that inflation was their single most important business problem, unchanged from December when […]

Filed Under: News Tagged With: Inflation, National Federation of Independent Business, Small Business Optimism Index

Consumer Sentiment Sinks to Ten Year Low in January

January 31, 2022 By CollisionWeek Editor

Inflation and concerns about weakened economy drove index down nearly 5% month-on-month and nearly 15% year-on-year. Consumer sentiment fell throughout January, posting a cumulative loss of 4.8%, sinking to its lowest level since November 2011, according to the University of Michigan Surveys of Consumers. The Consumer Sentiment Index fell to 67.2 in the January 2022 […]

Filed Under: News Tagged With: Consumer Sentiment Index, Inflation, University of Michigan

Small Business Owners Reporting Inflation as Biggest Problem Highest Since 1981

January 13, 2022 By CollisionWeek Editor

Percentage of those citing inflation has jumped 20 points since the beginning of 2021. The NFIB Small Business Optimism Index increased slightly in December to 98.9, up 0.5 points from November. Twenty-two percent of small business owners reported that inflation was their single most important problem encountered in operating their business. Price raising activities have […]

Filed Under: News Tagged With: Inflation, National Federation of Independent Business, Small Business Optimism Index

Interview: Susanna Gotsch, CCC Intelligent Solutions, Details Collision Repair Claims Trends

December 17, 2021 By CollisionWeek Editor

Gotsch discusses data on 2021 claims and the factors influencing collision repair and insurance claims markets into next year. Average cost per part running 8% higher in 2021. Labor rate growth hasn’t accelerated in 2021, but is expected higher in 2022 in wake of labor shortage. In our video interview, Susanna Gotsch, Senior Director, Industry […]

Filed Under: Feature Tagged With: CCC, Claim Frequency, Claim Severity, Inflation, Interview, Labor Rates, Parts Supply

Small Business Optimism Up Slightly in November

December 14, 2021 By CollisionWeek Editor

A net 59% of small business owners increased prices, the highest level since 1979. The NFIB Small Business Optimism Index increased slightly in November by 0.2 points to 98.4. Four of the 10 Index components improved, four declined, and two were unchanged. The NFIB Uncertainty Index decreased four points to 63. “As the end of […]

Filed Under: News Tagged With: Inflation, National Federation of Independent Business, Small Business Optimism Index

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