Total losses on the rise, collision repair industry hurts

03/8/2009 | Automotive Body Repair News

The collision repair industry has taken a serious financial hit during the past decade because of falling collision insurance claims and a large rise in total loss declarations. Up to a fifth of all wrecks are being declared total losses, a number some analysts say has been rising for at least a decade. Falling used-vehicle values combined with rising raw materials prices and a growing number of older vehicles on the road make it more cost efficient for insurers to have cars totaled than to repair them.

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