Mitchell has announced the availability of its Industry Trends Report (ITR) for the second quarter of 2013.
The report presents expert insight into evolving industry regulation and current events, and leverages Mitchell’s data sets to track inflationary trends in parts use. Mitchell’s quarterly publication has served the auto physical damage, collision and casualty industries for more than a decade and provides deep visibility into data-driven trends in the Property & Casualty (P&C) market.
Written by Greg Horn, vice president of industry relations at Mitchell, "Parts Price Index 2003 – 2013: Inflation & Its Impact on Severity" taps into 10 years of Mitchell-owned data to track and compare inflationary trends by part type and vehicle nameplate country of origin. For the first time, Mitchell data showed a decrease in the indexed price for the market basket. A more granular review revealed that the domestic vehicle parts market basket experienced such a decrease that it offset the moderate increases in Asia and Europe.
"The Mitchell Collision Parts Price Index (MCPPI) was created to track inflationary trends in parts use over select time periods," said Horn. "For this ITR, we were able to pull 10 years’ worth of data, looking at 2003-2012, for the 20 most frequently-replaced collision parts.
"Our data revealed that the impact of the expansion of competition parts price-matching programs from the domestic OEMs is driving the decrease in the overall index. This is due to the larger number of domestic vehicles in the U.S. car park, and the overwhelming dominance of new OEM parts selected on the average repairable estimate. It will be interesting to watch this development unfold as we continue to track the number of variables that affect these trends."
To view the report in its entirety, click here.