Like many technology-reliant industries around the world, the auto industry is experiencing the impact of the global shortage of semiconductor chips, the microchips that power digital devices and process data. In the auto industry, these chips power Advanced Driver Assistance Systems (ADAS). What caused this shortage? At the start of 2020, high demand for semiconductor […]
The final CCC Trends of 2020 is here, ending on a positive note with a progress report for vehicles with Advanced Driver-Assistance Systems (ADAS). While COVID-19 profoundly impacted the auto industry this year, we have seen progression in vehicle technology and correlations with repairs. Vehicles equipped with Automatic Emergency Breaking (AEB) has grown 74% […]
Miles driven in the U.S. has long been a key indicator used by our industry to project the likely number of vehicles involved in accidents each year. With COVID-19 there appears to be significant change in how, when and where people are driving that may require our industry to re-assess what this metric is […]
The ‘shelter-at-home’ directive that took place across most of the U.S. this spring shed new light on just how different ‘home’ is across the U.S., and led to a number of new, enhanced, accelerated or disrupted demographic trends. Time spent commuting to work grew in the last two decades as populations gravitated toward metro areas […]
With numerous public insurers reporting Q2 2020 and first half CY 2020 results, a common theme has emerged. Collision and property damage liability claim frequencies for Q2 2020 were reported down between 20 – 40 percent, while claim severities were reported up between 10 – 20 percent. In this month’s edition of CCC Trends, analyst […]
COVID-19 is dramatically changing driving behavior nationwide. While claims and miles driven are decreasing, one thing has increased – drivers’ appetite for risk. The reduction in U.S. daily trips taken and miles driven resulted in 65 percent less miles traveled in April 2020 versus January 2020. Speeding during COVID-19 increased by 27 percent. In […]
Just how different was Memorial Day 2020 than prior years? For the first time in twenty years, AAA and IHS Markit did not release a projection for 2020 Memorial Day holiday travel volume because the accuracy of the economic data they use to create their forecast was distorted by COVID-19. In this edition of CCC […]
Historically, Memorial Day weekend losses have accounted for “approximately 30 percent of non-comprehensive losses for the full month of May.” In the midst of the COVID-19 crisis, Memorial Day weekend auto trends will likely be very different from prior years. In this month’s edition of CCC Trends, Susanna Gotsch predicts what Memorial Day weekend 2020 […]
In this month’s edition of CCC Trends, Susanna Gotsch analyzes emerging auto accident trends due to COVID-19– from shifts in the total cost of repair, impact on vehicle sales to severe weather. To check out the rest of the #CCCTrends series, visit CCC’s YouTube channel. Download the full pdf here.
In this month’s edition of CCC Trends, Susanna Gotsch analyzes the shifts in claim and accident frequency due to the COVID-19 pandemic. To check out the rest of the #CCCTrends series, visit CCC’s YouTube channel. Download the full pdf report here.
