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 […]
Consumer Sentiment Declined in March on Inflation Concerns
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 […]
AutoClaims Direct Adds Per Assignment Fuel Credit to Help Appraiser Partners Battle Increasing Fuel Costs
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 […]
Insurance Association Reports Detail Skyrocketing Inflation Impacting Insurance Costs and Claims Times for Consumers
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 […]
Small Business Owner Optimism Down in January
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 […]
Consumer Sentiment Sinks to Ten Year Low in January
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 […]
Small Business Owners Reporting Inflation as Biggest Problem Highest Since 1981
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 […]
Interview: Susanna Gotsch, CCC Intelligent Solutions, Details Collision Repair Claims Trends
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 […]
Small Business Optimism Up Slightly in November
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 […]
U.S. Auto Body Repair Prices Up Over 8% in November Compared to 2020
The increase in auto body repair prices continues above the rate of inflation. Marks largest year-on-year increase since 1982. The most recent government figures on inflation through November 2021 show the rate of growth of auto body repair prices is above the rate of general inflation for the fifth month in a row. The result […]
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