COVID-19 Impacts on the Collision Repair Industry
As the effects of the COVID-19 virus are beginning to be felt in every area of American life, workers have wondered about the impacts on the Collision Repair industry and Auto Insurance industry. There has been speculation that with automakers shuttering assembly plants and other potential supply chain disruptions, we would see a detrimental impact to parts availability and a potential for price gouging, as well as significantly longer parts delivery times.
At PartsTrader, we have data for all part types, including OEM, Aftermarket, Remanufactured and Recycled, as well as measured quoted delivery times for parts quoted in our parts portal. Additionally, the nature of the PartsTrader portal with competitive quoting prevents price gouging in our marketplace.
The charts below were generated at noon Central Standard Time on April 2, 2020 and show a continued healthy quote volume per part type for the four most commonly replaced collision parts. The data shows that there has not been a decrease in the volume of quotes per part for each of the part types since January 1st, 2020.
Additionally, with thoughts of business restrictions impacting delivery times, we ran a similar chart on the quoted delivery times for parts and did not see a degradation in the quoted delivery times for parts in our system.
PartsTrader is committed to keeping the impacts on the collision repair industry informed as we navigate these unprecedented times. To that end, our team plans to keep you updated on a weekly basis of trends and pertinent information regarding parts activity in our marketplace. If there are additional insights you feel would be helpful to your business, please don’t hesitate to call or email your PartsTrader representative and we would be happy to try and accommodate any requests you may have.