As the first collision industry information provider to sign a data licensing agreement with Rivian, ̽»¨¾«Ñ¡ is proud to be a Platinum Sponsor of the 2024 Certified Collision Network Summit. The ̽»¨¾«Ñ¡ team will be on-hand to demonstrate how repair shops can leverage ̽»¨¾«Ñ¡â€™s cloud-based estimating and ̽»¨¾«Ñ¡ Cloud Estimating TruckMax to access OEM repair information for Rivian vehicles. With an abundance of presentations and networking opportunities, this event will help attendees enhance their knowledge of Rivian vehicles and the tools and technology used to repair them.
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Plugged-In: EV Collision Insights Q1 2024
In Q1 2024, electric vehicle (EV) repairable claims frequency rose to 2.26% in the United States and 3.41% in Canada, an increase of approximately 40% and 38% respectively over Q1 2023. Tesla price reductions late last year spurred precipitous price drops throughout the EV segment. As a result, price parity between EVs and vehicles with an internal combustion engine (ICE) may be coming faster than previously predicted.
Decrease in Used Electric Vehicle Prices Coincides with an Increase in Total Loss Claims
̽»¨¾«Ñ¡ today released its Q1 2024 trends report: Plugged-In: EV Collision Insights. This quarter’s report provides an update on EV total loss frequency, which has risen since late last year as the price of used EVs has fallen. In the U.S. and Canada, EV total loss rates were 9.93% and 7.48% respectively—an increase of approximately 8% from Q4 2023 and 30% from Q3 2023 in both regions.