Current Used Vehicle Market Conditions: Q1 2024
Spring appears to have sprung in the wholesale market, as average prices jumped another four percent month-over-month in February and have continued to rise significantly in March. Retail used vehicle and CPO sales also showed February increases.
AI and Emerging Technology's Impact on Auto Claims
7 MIN READ
Auto insurers are facing unprecedented challenges this year as they try to balance the rising cost of claims with their commitment to making policyholders whole after a loss. In response, many are investing in artificial intelligence (AI) and other new technologies to both automate and accelerate the claims process.
Toyota Certified Collision Center Expo 2024
Toyota’s inaugural Certified Collision Center Expo invites collision industry partners to showcase their products and services. Join dealer principals, general managers, collision center owners, and collision center managers, as well as an estimated 300 Toyota Certified Collision Centers to explore new opportunities.
Plugged-In: EV Collision Insights 2023 Year in Review
2023 ended with electric vehicle (EV) repairable claims frequency at 1.97% in the United States and 2.86% in Canada. That represents an increase of more than 40% in both regions over the previous year. When compared to 2020, the frequency of claims for repairable EVs has more than tripled.
ADAS Calibration: The New Profit Center
While the U.S. has made significant progress in improving motor vehicle safety since the fatality rate hit its peak nearly a hundred years ago, there’s still work to do. Excessive speed continues to be a significant contributing factor in traffic deaths and injuries, along with the rise in distracted driving.
NORTHEAST 2024
The highly anticipated NORTHEAST automotive repair event is tailored to meet the diverse needs of professionals across the industry. The conference offers a mix of seminars, presentations, product demos and activities with opportunities for networking and learning. Discover the latest industry insights, procedures and cutting-edge products, all in one setting.
Average Length of Rental for Repairable Vehicles: Q4 2023
Overall length of rental (LOR) for collision-related rentals in the U.S. in Q4 2023 was 17.7 days, a one-day decline from Q4 2022. In Q4 2022, LOR (18.7 days) was up one-half day from Q4 2021, so the trend of declining year-over-year LOR we’ve been tracking since Q2 2023 continues. Compared to Q4 2021, LOR is up 0.7 days.