CCC Releases 2017 Crash Course Report
CCC Information Services, Inc. recently released its 2017 Crash Course report. The report focuses on the trends and business drivers within the automotive collision industry. This year’s report, “It’s Happening,” examines the rapidly changing technology that is driving change for the consumer, vehicle, the insurer and the repairer. Crash Course is compiled using research and information from a wide range of sources and an aggregated set of data from CCC’s data warehouse, which includes approximately 180 million claims worth of information.
“The growing number of digital connections being created means greater access to information. This information brings an even greater understanding of the end customer and creates operational transparency and insights into new risks and opportunities for the companies that serve them. We explore how many of these technologies are playing a key role throughout the automotive ecosystem, and how businesses are responding,” said Susanna Gotsch, Lead Industry Analyst, CCC.
Several CCC subject matter experts have contributed to an expanded report. The Crash Course report also provides in-depth analysis on repair costs, telematics, casualty trends and myriad other factors that contribute to the performance of the industry. The section on the vehicle shows how OEM parts prices increase rapidly after series year one. The report gave the example of the OEM list price for headlamp assembly for the Toyota Camry LE. The headlamp for model years 1997 - 2001 was $196 in 1998 (‘year one’). The same part for the 2002 - 2006 redesign in 2003 jumped to $253; then stayed around the same until 2013 when the price jumped by over $100 to $357 for the 2012 - 2017 redesign.
“With the average price per part for newer model year vehicles tending to be more costly than for older models - either due to less competition or less complexity of the part itself - more parts being sold at a higher price is contributing to increasing repair costs again post-recession,” stated the report. “Alternative parts utilization continued to grow in 2016 with slight increases in both aftermarket and recycled part utilization. And, driving the non-OE utilization metrics further is the significant share of claim counts that still exist for vehicles 7-years and older, where non-OE utilization is nearly 50 percent of all dollars spent on parts.”
The 2017 Crash Course report can be downloaded at www.cccis.com.