Mitchell International has released its third quarter Industry Trends Report for 2020, and the “Auto Physical Damage” edition examines several key trends impacting the industry and new technologies.
[quote size=”null” title=””] We’re starting to see important new patterns emerge as we move into the second half of 2020,” said President and CEO Alex Sun. “Understanding and responding to these trends will be critically important as we move forward. While the needs of our clients and the people they serve are the significant drivers of new innovations and technologies, we continue to see an accelerated pace of adoption driven by COVID-19 and we expect to see new needs arise as the year continues.” [/quote]
Throughout this quarter’s report, Mitchell’s experts share insights important to the industry, including new vehicle repair trends based on an analysis of diagnostic scanning data, complications introduced by automobiles with advanced driver assistance systems (ADAS), the challenges of the insurance industry workforce’s most experienced adjusters thinking about retirement, and the impact of COVID-19 on healthcare employee workers’ compensation claims. Alex Sun also shares an overview of extended reality (XR), as more than 35% of all businesses are predicted to adopt and use some kind of XR technology in the next three years.
Using data from more than 2 million scans performed by Mitchell Diagnostics on collision damaged vehicles, the report analyses what the diagnostic trouble codes (DTCs) reveal about new trends in automotive repair.
Interestingly, scans revealed that luxury vehicles from several manufacturers produce the most fault codes, while Honda, Mazda and Hyundai produce the least. This is true even when analysing 2018–20 models, most of which come standard with ADAS. These new and complex ADAS-equipped automobiles require calibrations for a variety of sensors and cameras, sometimes extending key-to-key cycle time and increasing repair costs. Understanding the trends and performing diagnostic scans both before and after a repair are critical to safe, proper and efficient restoration of the vehicle to its pre-accident condition.
The report also dives deeper into the training and tools needed to repair vehicles with ADAS, and discusses the value partners bring to transforming the claims journey, the importance of measuring and monitoring performance metrics, and the Q2 2020 used vehicle and average length of rental market conditions.
To access the full report, visit: https://www.mpower.mitchell.com/auto-physical-damage-report/.