In Crash Course 2016, we explored the impact of a changing vehicle fleet on vehicle repair and total loss costs. In this article we'll look at some of the most recent data on vehicles being sold and driven in the U.S. and how that is driving costs within the automotive claims and collision repair industries.
|Consumer preferences drives change in new and used vehicle sales
Both new and used vehicle sales in the U.S. saw large gains in 2015, and are seeing further growth in 2016. CY2015 was a banner year for automakers where virtually all (with the exception of VW) saw new vehicle sales increase – something that has happened only one other time in the last 20 years (1999).
Analysts have projected new sales will reach 17.6 million in 2016, and with used retail unit volumes up 6.5 percent in Q1 2016, used sales will also exceed prior year sales. According to Manheim, the seven publicly traded dealership groups reported their 27th consecutive quarterly increase in same-store used retail unit volumes.
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