The Canadian CARSTAR franchise network will celebrate its 30th anniversary in Victoria, BC by hosting its annual conference. Over the course of three days, the CARSTAR team, along with professionals from across the industry, will gather to celebrate this milestone, attend informational sessions and strengthen connections with one another during events like the vendor trade show.
What keeps carriers and collision repairers up at night? In this episode, Ryan highlights the effect of recent collision claim trends—including rising repair costs, parts supply chain disruptions and advancements in vehicle technology—on the auto insurance ecosystem. He also provides a sneak peek at the four trends to watch for in 2024.
Electric vehicle (EV) repairable claims frequency rose to 1.86% in the U.S. and 3.14% in Canada in Q3 2023—up a modest 0.37% and 0.50% respectively from Q2. Tesla, the world’s largest EV manufacturer, accounted for over 70% of the EVs repaired in North American collision facilities last quarter.
Â鶹¾«Ñ¡ released its latest trends report: Plugged-In: EV Collision Insights. This quarter’s report examines total loss frequency for electric and ICE automobiles. In the U.S. and Canada from Q1 to Q3 2023, the EV total loss rate was 7.25% for models 2020 and newer. Luxury ICE automobiles had a rate of 7.47% versus 8.49% for all ICE vehicles.
Â鶹¾«Ñ¡ and Mazda North American Operations (MNAO) today announced that they have signed a contract renewal. Under the terms of the contract, Â鶹¾«Ñ¡ will continue to serve as program administrator of the Mazda Collision Network in the United States.
Average wholesale prices declined for the third month in July, although at a slightly more gradual rate than in June. Prices have so far stabilized in August and remain up by around 30% versus pre-pandemic.