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Tuesday, 04 May 2021 17:24

Enterprise Releases Q1 Length of Rental Data

Index

...decreases greater than one day.

 

Louisiana also led the country in total loss increase---up 2.6 days, from 13.6 in Q1 2020 to 16.2 in Q1 2021. Arkansas and Oklahmoa both saw total loss increases of two days, and eight other states were up by at least a day.

 

Rhode Island saw the largest decrease at -2.6 days, followed closely by D.C. at -2.1 days.

 

Four other states saw a decrease of a day or greater---Delaware, Maryland, New Jersey and Wyoming---with various decreases seen across 11 other states.

 

Enterprise asked PartsTrader’s Chief Innovation Officer Greg Horn about recent industry buzz around potential parts shortages or delays affecting collision repair in the U.S., as well as his outlook on the future.

 

“We’ve heard those concerns as well and looked into our U.S. marketplace data," Horn said. "With over $100 million in monthly parts sales, PartsTrader looks at two key metrics to assess supply chain health: delivery time averages and the number of quotes per part.

 

"Average delivery time quoted was 2.1 days, which was an increase of only 0.1 days from Q1 2020---identical to the increase Enterprise saw in overall LOR. However, the number of quotes per part for Q1 2021, which would point to any parts backorders, was 8.2 quotes per part, slightly more than Q1 2020, indicating a robust part supply.

 

"While the widely reported microchip shortage has had a major impact on new vehicle production, the impact has been minimal on collision repair," Horn said. "That said, an upcoming shortage of raw natural rubber products---mainly the product of a rubber plant leaf disease---may start to impact OE production with a shortage or price increase on tires, hoses and belts.”

 

While Q1 2021 seems stable at a macro level, Q2 of 2021’s results will be interesting on several fronts. Enterprise anticipates the results will vary significantly from Q2 2020 and the immediate impacts that COVID and shutdowns brought, and will be monitoring the overall percentages of drivable, non-drivable and total loss claims, while analyzing any supply chain impacts on vehicles or parts.

 

Source: Enterprise

 

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