CARSTAR Announces Record Revenue for First Half of 2015

CARSTAR Announces Record Revenue for First Half of 2015

MSO finished the first half of 2015 with revenue of $386.2 million, which puts it on track to outpace its performance in 2014.

CARSTAR Auto Body Repair Experts announced that after a record year in 2014 for sales, growth and industry performance, it finished the first half of 2015 with revenue of $386.2 million, which puts it on track to outpace its performance in 2014.

This year, CARSTAR is seeing year-to-date same store sales increases for the U.S. of 8.3 percent. According to CARSTAR, this leads the collision repair industry among all other companies, which it says deliver an average of four percent increases in same store sales. In addition, CARSTAR is expanding its insurance relationships, securing MSO programs with several of the top insurance carriers.

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 strong same store sales in North America, up 11.3 percent over the previous year.

“We continue to expand our network with strong, well-run shops and work to improve everyone’s efficiency and margins through programs focused on business management and operational improvements,” 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, while the second quarter tends to have lower weather-involved repairs due to spring conditions, we saw strong growth across the network.”

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