The latest iteration of Mitchell's Industry Trends Report (ITR) begins with an examination of the impact of the Japanese tsunami on vehicle parts pricing. Greg Horn, ITR editor-in-chief and Mitchell's vice president of industry relations, alludes to stories of salvage yards hoarding parts and asks some questions that have weighed heavily on the minds of all involved in the collision parts industry—from repair shops to insurers—since the disaster.
Will Replacement Parts Costs Go Up?
Although many presumed that aftermarket parts usage would increase, and that OEM components would be increasingly difficult to come by, Horn quickly dispels these notions in the opening feature of the 4Q publication. He then leverages the Mitchell Collision Parts Price Index (MCPPI)—a metric similar to the Consumer Price Index (CPI)—to identify trends in parts prices versus inflation and assess the impact of the tsunami on parts selection behavior.
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