SAN DIEGO, Calif. – Mitchell International has released the first quarter 2009 edition of its Industry Trends Report (ITR) — the company’s quarterly publication that highlights industry-related trends, news items and statistics.
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This edition's Quarterly Feature, "The Time has Come for the Mitchell Information Center," by Mitchell's Vice President of Industry Relations, Greg Horn, discusses the challenge faced by repairers in an environment where vehicle construction, equipment and repairs grow more complex with each model year. In such an environment, insurance appraisers and collision repair technicians alike need to quickly and easily access the information that will give them the ability to accurately estimate and safely repair increasingly complex vehicles.
"The most accurate and up-to-date repair data is critical," says Horn. "Today, even the most basic repairs can require manufacturer specific instructions and parts. Yet obtaining detailed how-to instructions is complex, time consuming and costly — as is ordering correct parts for the job at hand. Without an easy, effective way to address the repair information deficit there is a substantial liability risk for repairers when proper repair procedures are not followed, as well as potential loss in customer satisfaction."
Adds Horn, "The growing number of hybrids on the road today is just one example of how the collision repair environment is constantly changing and at the same time creating corresponding pressure for repairers who need to keep pace with the demands of the increasing technology found on today’s vehicles. And hybrids are full of these challenges."
Other valuable points of interest in the current issue of Mitchell's ITR
include:
• In Q4-2008, the average initial gross appraisal value for Comprehensive losses processed through Mitchell servers was $2,423, an increase of $56. Applying the prescribed 3 percent development factor yields an anticipated final comprehensive severity figure of $2,497.
• The initial average appraisal value, as calculated by combining data from all first- and third- party repairable vehicle appraisals uploaded through Mitchell systems in Q4-2008 was $2,556, $10 less than the previous year's Q4-2007 appraisal average of $2,566. Applying the prescribed development factor of 2.3 percent produces an anticipated average appraisal value of $2,615.
Collision repairers who would like to learn more about Mitchell Information Center can visit www.mitchellinformationcenter.com for more information.
