Mitchell International today released the second quarter 2008 edition of its Industry Trends Report (ITR), the company’s quarterly publication that highlights industry-related trends, news items and statistics.
This edition’s Quarterly Feature, “5 Trends That Will Change Our Industry,” by Greg Horn, Mitchell’s vice president of Industry Relations, provides a candid look at how current movements in collision repair, such as the transition to waterborne paints, the shift toward lightweight construction materials and advances in vehicle safety equipment, will affect the future of the industry. The feature also focuses on better understanding performance through the use of data, which are increasingly used by collision repair industries and insurance claims organizations to improve business operations.
“Right now, the collision repair industry is undergoing some of the most significant changes since the introduction of unibody vehicle production,” Horn said. “The key trends discussed in-depth in the latest Mitchell ITR will significantly change the time, training and tools costs of repairers and carriers, compelling the industry to alter production schedules and risk assessments in order to profitably grow their businesses.”
Other points of interest in the current issue of Mitchell’s ITR include:
- The average appraisal value, as calculated by combining data from all first- and third-party repairable vehicle appraisals uploaded through Mitchell systems in Q1-2008, was $2,474 – $51 less than the previous year’s Q1-2007 appraisal average. Applying the prescribed development factor of 3%, it produces an anticipated average appraisal value of $2,539.
- During Q1-2008, Paint and Materials made up nearly 9.78% of an average Mitchell appraisal value, representing a 0.46 point increase over Q1-2007.
Click HERE to download the latest Industry Trends Report.
