Monday, 04 May 2015 00:00

CARSTAR Announces Record Revenue for the First Quarter of 2015

CARSTAR Auto Body Repair Experts announced on May 4 that it finished the first quarter of 2015 with revenue of $195.6 million, which puts it on track to outpace its performance in 2014.

Last year, CARSTAR delivered North American revenue of $712 million, up nearly 10 percent from $649 million in 2013, a record for the company.  It also ended the year with same store sales in North America that were up 11.3 percent over the previous year. 

CARSTAR saw a significant increase in insurance work during the first quarter of the year.  In 2014, its insurance carrier volumes increased 11 percent over 2013, and it added 179 direct repair programs (DRPs) to its network, a trend continuing in 2015.

“There are several factors driving our growth this quarter,” said David Byers, CEO of CARSTAR Auto Body Repair Experts.  “We’ve seen increases in repair volumes from the top 25 insurance carriers, driven by CARSTAR’s EDGE Performance platform and continued KPI performance.  We are seeing higher repair values as consumers continue to purchase new cars.  And, weather has played a role, with heavy winter storms throughout the country.”