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Strategies & Market Trends : The Art of Investing

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Nov 21 4:00 PM EST

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Sun Tzu

To: Sun Tzu who wrote (3636)	2/17/2022 2:57:43 PM
From: robert b furman	1 Recommendation Read Replies (1) of 10628

HI Sun, As a dealer with both a parts department and a body shop that had many preferred insurance relationships I hated them. Insurance companies force you to buy used parts on older cars as a way of saving money on the repair. On older cars I get it. When it came to a vehicle in warranty, we fought to get our customer new parts. It's just part of the business, but LKQ parts have savings and they are part of the business. If a part was really bad - you could refuse or they would pay to fix it (dents). They are secure in their business. They just help save repair costs. Insurance adjusters get the appraisals reviewed and a percent of jobs with LKQ parts is monitored for both the adjuster and the shop. It is a stable and growing business as the the fleet age keeps getting higher. Unless that age gets so old, full coverage is dropped. They're a growth business IMO. 5% - 10% and used prices are going up with used vehicle values I would think. Salvage units are bid on just like used cars at salvage auctions. Hope that helps. Bobf

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