The chart below illustrates the total loss data for both vehicle age and actual cash value of total loss vehicles processed through Mitchell servers.
Average Vehicle Age in Years
Average Vehicle Total Loss Actual Cash Value
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Auto Physical Damage
Article
Plugged-In: EV Collision Insights Q1 2024
June 4, 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.
Auto Physical Damage
News Release
Decrease in Used Electric Vehicle Prices Coincides with an Increase in Total Loss Claims
June 4, 2024
Mitchell 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.
Business Insurance
In the News
Comp industry wary of rise of migraine meds
May 16, 2024
In the article, Nikki Wilson says a big reason these meds are rising in comp is due to their effectiveness for treating injured employees who sustain traumatic brain injuries or other triggers on the claim related to migraines.
Auto Physical Damage
Conference
Fix Network Canada National Conference 2024
Fix Network Canada’s 2024 National Conference is a premier gathering for its insurance partners, suppliers, franchisees and other industry professionals. The event begins with an engaging expo, followed by days filled with keynote presentations, insightful panels and networking opportunities.
Auto Physical Damage
Conference
Midwest Collision Repair Trade Show 2024
The Midwest Collision Repair Trade Show & Conference rallies the five active Midwest state associations to deliver an exclusive event for collision repair professionals in Kansas City. At the show, business owners, managers and staff are encouraged to attend educational presentations hosted by notable voices in the industry and engage in hands-on projects and trainings to expand their knowledge.
Enlyte
News Release
Enlyte and Mitchell Honored as American Business Awards® Winners
April 29, 2024
Enlyte and Mitchell, an Enlyte company, have been recognized by the American Business Association with two prestigious Stevie® awards for excellence. This recognition underscores the organizations’ commitment to leveraging their comprehensive data and market expertise to serve the needs of the property and casualty industry.