United Kingdom Motor Claims and Body Repair Report 2022-2023: In-Depth Coverage of Market Challenges Including Repair Volume, Cost, and Market Dynamics – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “UK Motor Claims and Body Repair Report 2022-2023” report has been added to ResearchAndMarkets.com’s offering.

The report provides extensive and in-depth coverage of the market challenges including repair volume, cost, and dynamics.

The internationally recognised report is of interest to: motor insurance companies, vehicle manufacturers, bodyshop networks, bodyshop groups, paint and distribution companies plus other product manufacturers within the supply chain, trade bodies and media.

Whilst the economic and political situations remain uncertain, moving so rapidly that the economic section of this report has had several re-writes, the working patterns within the industry have hit upon a ‘new normal’ with consistency in many factors such as traffic volumes, repair volumes and the resulting repair cycle times.

Bodyshops have had to adapt to almost all factors impacting their business negatively since the pandemic and have found new ways of working as a result, with the latest significant energy cost increases this is becoming more and more challenging. In this new-normal position, work providers have varied the triage and direct to repairers, repairers also triage the damage to help in securing parts and providing some degree of service certainty- a further challenging dynamic for the industry which has increased demand for green parts.

The main areas of focus for everyone now are clearly Energy costs, for both consumers and businesses (despite the Energy plan announced by the government), NBRA reporting a threefold increase in costs which will require significant support. Some Insurers have announced one-off payments and some increasing labour rates to help.

This forms part of the fastest rise in inflation for 41 years leading to increased pressure on interest rates, which are now also rising rapidly as we head into an official recession (if Q4 GDP contracts), putting real pressure on the cost of production for all industries and therefore rising sale prices – from everything, everyday food & fuel as well as vehicle repairs.

One thing is for certain, repair costs are rising rapidly as a result, causing Insurers issues trying to predict accurately where claims inflation will land and how much of this they can push into rates, at a time consumers are so uncertain of their own finances and in a very competitive pricing market.

The full extent of this has not been seen yet.

Finally, this all comes at a time when we have seen a further reduction in number of bodyshops post-pandemic; creating further challenges for Insurers to navigate, coupling increasing costs with reducing quality capacity. We have delved into all this in detail through this report.

Key Topics Covered:

Section 1 – Preface

Section 2 – Executive Summary

Section 3 – Report Partners and Sponsors

Section 4 – Market Background and Developments

Section 5 – Market Size and Trends

Section 6 – Bodyshop Market Survey

Section 7 – Repairs by Vehicle Make

Section 8 – Revolution in Vehicle Technology

Section 9 – UK Motor Insurance Trends

Section 10 – Future Industry Trends

Section 11 – References

For more information about this report visit https://www.researchandmarkets.com/r/yz3qrp

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