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Thursday, 20 January 2022 09:15

Average Length of Rental Increased by 1.8 Days Between Third and Fourth Quarters of 2021

Index

...qualified technicians are also an issue, and that shortage in technicians has caused work in process (WIP) to hit record highs.”

 

Anderson also noted the impact of the Omicron variant: “Repair facilities have been affected by the business disruptions seen with the latest COVID-19 variant,” noting several shops he had been speaking with have had significant staff unavailable due to infections.

 

Drivable Claims

 

Q4 2021 LOR for claims noted as drivable increased 3.2 days from Q4 2020 to 14.5.

 

As with the overall numbers, all states, plus Washington, D.C., had increases.

 

Iowa (+0.4), Wyoming (+0.4), and South Dakota (+0.5) were each under a full day compared to Q4 2020. Thirteen states had increases of four days or greater, with Arizona (4.7), DC (4.6), and Louisiana (4.5) showing the highest increases.

 

Non-Drivable Claims

 

For rentals associated with non-drivable claims, LOR went from 19.0 in Q4 2020 to 24.3 in Q4 2021, a 5.3-day increase.

 

Wyoming (up 2.0 days) and South Dakota (up 2.6 days) were the only states with less than a three-day increase. Thirty-one states, plus Washington, D.C., had increases greater than five full days, with 15 of these seeing more than a six-day increase.

 

New Mexico came in highest with an increase of...