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Tariffs & Collision Repair: The Rising Costs You Need to Know
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Tariffs on raw materials and imported parts are driving up repair costs, adding over $250 to the average collision repair bill—discover what this means for the industry.
-Material Cost Surge: Steel and aluminum tariffs are increasing the price of repair parts, with estimated added costs of $93 and $72 per vehicle, respectively.
-Broader Import Tariffs: Potential reinstatement of tariffs on parts from China, Canada, and Mexico could add another $90 to repair expenses.
-Industry-Wide Impact: With rising costs affecting insurers, repair shops, and consumers, understanding these trends is crucial for navigating the evolving market.
To watch the full episode of Expert Viewpoints with Ryan Mandell, visit: https://www.insurancejournal.tv/videos/24934/
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