San Diego, California — August 16, 2016 — Mitchell International has released its Industry Trends Report (ITR) for the third quarter of 2016. The latest report offers a deeper look at the price trends of the most replaced collision parts.
Highlights from the latest edition include an in-depth look at the findings in Mitchell’s Collision Parts Price Index and the top qualities of an effective business workflow solution.
Nine years ago, Mitchell created the Mitchell Collision Parts Price Index (MCPPI) to track the inflationary trends of the most replaced collision parts. Today, the annually updated MCPPI includes the top 20 most replaced parts on collision estimates split out by country of origin and part type. In this edition, Greg Horn, Vice President of Industry Relations at Mitchell, discusses key insights gleaned from the current index and compares the findings to those of years past. Unique to this year’s index, Mitchell has added the break out of General Motors, Toyota and Ford nameplate parts to benchmark the impact of pricing and price-matching programs on OEM parts.
In addition, Alex Sun, Mitchell’s President and CEO, discusses prominent technology and trends that are currently shaping the world around us and impacting the industry.
Sun looks ahead at key technology and social trends impacting both insurers and collision repairers. Overarching trends that touch many dimensions of the insurance industry include technology transformation, machine learning and digital consumer engagement. In addition to speaking to these industry-wide trends, Sun also weighs in on the trends specifically impacting the auto casualty, workers’ compensation and auto physical damage industries.
The latest report is currently available for download from mitchell.com. You can also access a webinar detailing the Industry Trends Report at this link.
