CCC Intelligent Solutions has released a new year-end report that takes a look at back at three key trends that defined the auto repair industry in 2023.
In 2023, the auto repair and insurance sectors continued to navigate complex terrain marked by significant shifts in consumer behavior, supply chain resilience and market demands. The top trends of 2023 were:
- A rise in auto theft: The U.S. saw over one million vehicles stolen in 2022 — the most since 2008 — and a year over year increase of 7%.
- The impact of the strike on suppliers: The impacts of the UAW strikes highlighted the importance of suppliers, who account for 900,000 jobs in the automotive industry. Historical experience has shown that strikes could result in increased cycle times and potential non-OEM part price increases.
- The vehicle repair cost bubble: The total cost of repairs, post-collision, experienced subtle fluctuations this year, influenced by factors like vehicle age mix and economic variables.
The full report can be found here.
