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The global auto insurance market is undergoing a profound transformation , driven by rising trade barriers, escalating costs, and accelerated technological innovation. Tariffs on vehicles and auto parts are directly inflating repair costs, disrupting supply chains, and increasing claim severity across key regionsfrom the U.S.
Insurance claims, arguably the largest driver of revenue, were down which directly impacted collision topline. Similarly, a sudden drop in used car prices from post-COVID highs resulted in many vehicles not being repaired. Now, 2024 was an unusual year with one of the mildest winters recorded in recent history.
Despite looming trade challenges, battery electric vehicle (BEV) sales remained strong in the first quarter, making up nine per cent of new vehicle sales in the U.S. ICE vehicle repair costs dropped eight per cent to $5,345. and 10 per cent in Canada. Collision claims for repairable BEVs also increased, hitting 4.48
North Dakota has decided to buck a trend in the way states approach automotive insurance issues. Most states discourage auto insurance companies from directing their policyholders to certain auto body shops. Lawmakers in North Dakota went in another direction. ” Senate Bill (SB) 2374 would overturn that bulletin.
Polly has announced the launch of its new Professional Insurance Platform at NADA 2025 to empower dealerships to monetize the insurance process and improve gross profits. The announcement comes as Polly prepares to showcase these updates at the 2025 NADA Show in New Orleans.
Fleet operators are facing rising costs in acquisition, insurance, maintenance, and repairs — even as fuel prices dip — forcing a rethink of budgeting and vehicle strategies.
The Insurance Institute for Highway Safety (IIHS) has released the preliminary list of vehicles tested according to the 2025 criteria. Only seven MY2025 electric vehicles got the coveted Top Safety Pick Plus award, and no Tesla model is among them. continue reading. )
Only seven electric vehicles have received the Insurance Institute for Highway Safety's Top Safety Pick Plus award in 2025. The change happened after the IIHS updated the test criteria for 2025. Another one has managed to get a Top Safety Pick (non-plus) accolade. continue reading. )
MEMA, The Vehicle Suppliers Association announced Jon Gentile as its new vice president of legislative affairs. He brings more than 10 years of experience in government relations, most recently serving as the chief advocacy officer for the National Association of Professional Insurance Agents (PIA).
Source How can you ensure you receive the lowest insurance rates possible? Successfully navigating insurance quotes presents challenges since errors during the process can lead to annual costs of hundreds to thousands of dollars. Given that auto insurance rates are projected to increase by 7.5% Not providing enough information.
According to the Insurance Institute for Highway Safety, the 2025 Subaru Forester is perfectly so in terms of LATCH ease of use. On the other hand, certain Foresters produced for the 2025 model year present a big safety risk due to loose anchor bolts.
According to Polly’s Q4 2024 Embedded Auto Insurance Report , auto insurance rates stabilized in 2024 after two years of steep increases. The average in-dealership insurance quote averaged $199 per month in 2024, a stark contrast to the volatile swings of prior years that saw insurance rate increases vastly exceed inflation.
How economic uncertainty will impact auto service The mechanical automotive service market in Canada faced significant challenges in 2024 and appears poised for continued turbulence as we head into 2025. As consumer confidence waned, many found it difficult to bear the costs of non-discretionary vehicle maintenance. reported a 6.4
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Do electric vehicles really offer a lower cost of ownership than gas-powered vehicles? The automotive data firms 2025 Electric Vehicle Cost of Ownership Analysis found 44% of the 54 EV models studied had a lower total cost of ownership over five years than a similarly equipped gasoline alternative a drop from 49% in the 2024 study.
Texas experiences more hail storms than most other states, and these storms can cause thousands of dollars in damage to unprotected vehicles. Here are seven essential tips to keep your vehicle safe. The post Is Your Vehicle at Risk? The good news? This allows you to move your car to a safer location before the storm hits.
The all-new 2025 Nissan Murano received the TOP SAFETY PICK+, reserved for only the safest vehicles on the market. The award offered by the Insurance Institute for Highway Safety indicates that the Murano performed exceptionally well in IIHS crash tests and safety feature evaluations. It takes years to develop a safe vehicle.
The redesigned QX80 has been recently been tested by the Insurance Institute of Highway Safety in four distinct scenarios, of which the updated moderate overlap front and updated side impact evaluations are considered the toughest. As expected of the newcomer, it aced every single one of said crashworthiness tests. continue reading. )
While there is positive growth in the number of electric and plug-in hybrid electric vehicle sales, the rate of that growth hasn’t climbed the way initially expected. Although advancements in battery technology have extended EV ranges, they still fall short of the convenience offered by ICE vehicles. Canada has been an outlier.
Dealerships use the already established network of car dealer shipping services or brokers who use different modes to move vehicles between locations. The different ways used to move vehicles between dealerships include: 1. Ocean freight or sea freight transports vehicles using specialized ships or container ships.
CARFAXs latest research CARFAXs data showed nearly 17 million vehicles on U.S. roads began 2025 with expired registration tags. In California, for example, the DMV said law enforcement may order a vehicle towed or impounded if its registration has been expired more than six months, CARFAX said. CARFAXs data showed Texas with 2.1
In a major step towards sustainability, F&P, the Danish trade association for insurance companies and pension funds, has expanded its strategic partnership with Solera. This means every insurer across Denmark can track and offset the carbon emissions created through different processes in a vehicle’s life span – including Scope 3.
The automotive industry is experiencing a noticeable shift in consumer behavior and market dynamics, particularly in regard to finance and insurance (F&I) products. One of the most pressing issues facing the industry is the impact of vehicle affordability on F&I product sales. In fact, 28.5% The survey indicates that 12.9%
Dan Stander “The repair industry faces unprecedented challenges with new vehicle technologies, but there’s an incredible opportunity in how we respond together,” says Stander, whose leadership style emphasizes finding common ground between repairers, manufacturers, insurers, and educators.
Instead of risking further damage, trust professional paintless dent repair experts who use specialized tools to safely restore your vehicles body. Myth #4 – Insurance Wont Cover Hail Damage Repairs Some drivers worry that their insurance wont cover hail damage repair.
The Q1 2025 Cox Automotive Dealer Sentiment Index (CADSI) reports that the U.S. automobile dealers’ view of current market conditions increased from an index score of 42 in Q4 2024 to 44 in Q1 2025. The Q1 new-vehicle sales index remained at 54, higher than last year’s 52.
Early spring presents a crucial window for Dallas car owners to inspect their vehicles for hail damage. This early peak makes it the prime time to assess any damage your vehicle may have sustained during the initial storms of the season. Insurance-friendly: At Dent Mechanic Group, we understand the complexities of insurance claims.
Everyone was talking about how insurance rates impacted auto sales in 2024. Whats also true is that insurance doesnt have to kill the deal. In fact, auto insurance can be a deal maker and even a deal sweetener. Rising insurance costs could actually help dealers save buyers money when they need it most during the deal.
” survey this past October, a statistic unchanged from the same survey a year earlier, which was the first to ask about shops’ billing (and insurers’ payment) practices related to the procedure. That’s up five percentage points from 2023. ” The latest quarterly “Who Pays for What?
Mavsign’s integration with RouteOne integration transforms the vehicle transaction process by integrating RouteOne’s finance and insurance platform with Mavsign’s advanced remote signing and verification capabilities, delivering unparalleled efficiency and security.
The vehicle history report provider said it analyzed millions of vehicle records from auctions, service reports and ownership histories to find the most cost-effective cars to maintain. The Corolla is a vehicle you can drive for decades with little or no repair expenses. And the Toyota Corolla came out on top.
Beyond the visual damage, the stress of finding a trustworthy auto hail repair shop and navigating the insurance labyrinth can feel overwhelming. Is Your Vehicle Damaged? Rental Car Fees While your insurance might cover a rental car, there are often limitations. We provide a free rental car, period.
The establishment of environmental protection areas in France is revolutionizing driving habits in major cities while major alterations will take effect by 2025. Recent statistics show that Europe has a rapidly expanding network of Low Emission Zones which will total 507 by 2025.
Welcome to 2025! The employer-paid portions of Social Security, Medicare, and unemployment taxes are also deductible, along with various employee benefits like health insurance and retirement plan contributions. As a new year begins, its time to start thinking about taxes.
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The Insurance Institute for Highway Safety has recently tested a group of eight vehicles, including the 2025 model year Genesis GV70 and the 2024 model year Genesis Electrified GV70. As far as crashworthiness is concerned, the IIHS tested the internal combustion and electric si. continue reading. )
The annual Hagerty Bull Market List is out , and there are still several days before Christmas to run out and grab one of these incredible vehicles for someone you love. If the big vintage car insurance company says Read more. Or for yourself. After all, why shouldnt you treat yourself to a Lamborghini Gallardo to end 2024?
On average, Americans spend $12,182 annually on their vehicles, contributing to $1.62 “Highnote’s platform enabled us to create a unique credit card that enhances the ownership experience by keeping customers connected to their dealership for service, vehicle purchase and rewards.” trillion in auto loan debt.
As we reflect on the 2024 automotive landscape, its clear that dealerships faced a year of significant challenges and transformations, particularly in finance and insurance (F&I). Vehicle service contracts emerged as a focal point.
At this year’s InsureTech Connect (ITC) 2024, industry professionals gathered to discuss the future of insurance and claims processing. Historically, a customer would need to make multiple visits to the shop—first for an initial inspection, then to drop off the vehicle, and possibly a third time to pick it up.
Check Out Our North Texas Hailstorm Guide for 2025 Why Dallas Heat Worsens Dents Leaving hail dents unrepaired as summer approaches is a gamble, and the odds are not in your favor. Paint Damage The paint on your vehicle, while resilient, is also subjected to the same expansion and contraction as the metal beneath it.
Facelifted in early 2023 for the 2024 model year, the X5 has been recently tested by Virginia-based nonprofit Insurance Institute for Highway Safety. The mid-size luxury sport utility vehicle performed as expected in the crashworthiness tests, which comprise the small overlap front, moderate overlap front, and side crash tests.
Being in a family independent shop, you are responsible for every aspect of the business from marketing to HR to operations, sales, even hiring, firing, negotiating insurance policies just everything you can think of. Fox surmises the chain will have around 250 locations by the end of 2025. Vehicles are getting a lot more expensive.
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