More details are emerging about "PartsTrader," the online parts bidding system State Farm has been testing with shops and parts suppliers in several markets. The system enables a shop to upload an estimate, giving both new and used parts vendors an opportunity to see...
REPAIR INDUSTRY STATS: Severity rises modestly in 2011
The average total cost of vehicle repairs was just shy of $2,500 in 2011, according to CCC Information Services, up about 2.5 percent from 2010, and about 2.1 percent higher than the previous peak in 2008. Audatex stats show a similar increase from 2010 to 2011, with...
HEARD IN THE INDUSTRY
"Over 16 percent of comprehensive loss appraisals included PDR in 2011, versus only 9 percent in years prior." – Susanna Gotsch, lead analyst for CCC Information Services
TRENDS: Parts vendors indemnifying shops
The aftermarket parts industry is adopting programs to indemnify collision shops using the parts in an effort to overcome liability concerns over use of the parts. LKQ Corporation in April said that in addition to a lifetime warranty on its non-OEM parts, it will...
INSURANCE INDUSTRY TRENDS: Largest auto insurers continue to grow
Preliminary data from the National Association of Insurance Commissioners indicates the Top 10 auto insurers continued to gain market share as a group in 2011. But it also shows that property and casualty insurers had a loss ratio of 67.5 percent for the year, up...