Repair values climb 51% in NI
Northern Ireland’s automotive trade can take advantage of a potential revenue opportunity as vehicles become increasingly complex, a study by Accident Exchange has shown.
Its investigation showed the average cost to repair a car rose by a surprising 51% in just 12 months.
Figures indicate that on average motorists paid £2,362 for repairs following an accident compared to £1,569 in 2014, with owners of ‘mainstream’ vehicles taking the largest financial hit to restore their cars’ condition.
Car buyers today expect their vehicles to be laden with technology, however, they are significantly more costly to repair. Not only are materials more expensive but the repair methods are more complex and labour intensive, too.
Classifying cars based on manufacturer, popular vehicles from mainstream brands commanded high repair values in the bodyshop. By 2015, the average cost of repairing a ‘mainstream’ vehicle was 54% higher than the previous year while prestige repairs on luxury brands jumped 44%.
Liz Fisher, sales director at Accident Exchange commented, ‘As increasingly complex vehicles become more expensive to repair, credit repair work flow is a key source of revenue that bodyshops and dealerships can take advantage of.’
‘Offering an accident management service is an effective way to control the cost to the motorist and insurers while keeping this work within the dealership’s approved bodyshop, retaining customers and securing revenue.’
The two month study was carried out using data from bodyshops across Northern Ireland over a 12-month period from June 2014 to June 2015.