CARSTAR: Strong Q2 Sets Record Sales Pace for 2014
Sept. 12, 2014—CARSTAR Auto Body Repair Experts announced on Thursday that its second quarter closed with same-store sales up 12.5 percent over Q1, and the company is on track to deliver more than $650 million in revenue this year.
The projected revenue total would be a company record.
“We expect to see demand for high-quality vehicle repairs continue to grow as the economy improves,” CARSTAR CEO David Byers said. “People are buying new vehicles, which are more expensive to repair, or spending out-of-pocket to repair their existing vehicle. In addition, Mother Nature delivered a tough winter and spring across North America, and we’re seeing those damaged vehicles in the repair cycle now.”
CARSTAR attributed the company growth to several key factors:
- Increases in repair volumes from its top 25 insurance carriers, driven by CARSTAR’s EDGE Performance platform and continued KPI performance
- New car purchases have remained strong throughout the year, which leads to higher repair values
- Weather continues to drive repair needs, from winter ice and snow to spring hail to summer storms
- Advance vehicle technology such as back-up cameras and on-board sensors are more expensive to repair
In 2013, CARSTAR generated $641 million in total revenue, a record for the company, up from $603 million in 2012.