Immediate Release - A detailed research study of the accident repair market in the UK shows that the average cost of insurance repairs to motor vehicles fell last year by 8% last year, from £1,420 in 2003 to £1,310 in 2005. The research found that this has been due to the reduction in the cost of parts used in accident repairs which in 2003 amounted to £702 for an average insurance repair but which fell by 16% to £592 in 2005. Parts costs now account for 45.2% of the cost of insurance accident damage repairs compared with 49.4% in 2003. This has occurred largely as vehicle manufacturers have reduced the cost of the most commonly fitted parts used in accident repairs as a result of the 2002 Block Exemption Regulation which introduced more competition for the car manufacturers' original equipment (OE) replacement parts.

(use the link above to download the rest of this press release)