CARSTAR Auto Body Repair Experts announced that it finished the first quarter of 2015 with revenue of $195.6 million, which puts it on track to outpace its performance in 2014.
Last year, CARSTAR delivered North American revenue of $712 million, up nearly 10 percent from $649 million in 2013, a record for the company. It also ended the year with same store sales in North America up 11.3 percent over the previous year.
CARSTAR saw a significant increase in insurance work during the first quarter of the year. In 2014, its insurance carrier volumes increased 11 percent over 2013, and it added 179 DRPs to its network, a trend continuing in 2015.
“There are several factors driving our growth this quarter,” said CARSTAR CEO David Byers. “We’ve seen increases in repair volumes from the top 25 insurance carriers, driven by CARSTAR’s EDGE Performance platform and continued KPI performance. We are seeing higher repair values as consumers continue to purchase new cars. And, weather has played a role, with heavy winter storms throughout the country.”
CARSTAR states that its proprietary EDGE performance system has helped many of its stores achieve the industry’s highest KPIs. Many of the CARSTAR locations repeatedly have a Net Promoter Score (NPS) exceeding 90 percent – 10 points higher than the industry average. The network driveable cycle time and closing ratio lead the industry as well, the MSO states.
The operations team has expanded the EDGE Performance Platform during the first quarter. These include more substantial content in each Tier, a new Tier 5 focused on technical competence around aluminum, the addition of OPGs or Operational Performance Groups that will be held regionally to support GM training, and new MPGs or Market Performance Groups.
The Romans Group LLC has published their 2015 rankings of the largest collision repair MSOs in North America, and CARSTAR came out on top again for 2015. With more than 430 locations throughout the U.S. and Canada, CARSTAR continues to be ranked as the No. 1 largest MSO.
CARSTAR is actively seeking new franchisees. Interested parties should contact Scott Robertson, vice president of development, at [email protected] or (888) 505-6815.