Mitchell Releases Latest Edition of Industry Trends Report
August 3, 2010

Mitchell International Inc. has released the third-quarter 2010 edition of its Industry Trends Report (ITR)—the company's quarterly publication that highlights industry-related trends, news items and statistics.

This edition's Quarterly Feature, "Are Hybrids as Green When it Comes to Their Claims Costs?" by Mitchell's vice president of industry relations, Greg Horn, reveals new information about the claim costs of hybrid vehicles,.

"Mitchell's in-depth, multi-year data shows that hybrids have a 6.5% or $182 higher average claim severity than their gas-powered counterparts," says Horn. "From a claims severity and frequency perspective, hybrid vehicles represent a more costly overall risk to insure than their gas only powered cousins."

Horn adds, "Powering these higher hybrid claims costs is a significant change in the hybrid driver profile -from the eco-conscious consumer to a new base of buyers interested in cutting fuel expenses associated with long commutes. The result is an entirely new risk profile for hybrid vehicle drivers, who will likely see their insurance rates continue to increase."

The Mitchell study also revealed that hybrid vehicle claims utilize 91.9 percent OEM parts dollars compared to 86.8 percent for gas-only counterparts Data points from a study by integrity solutions provider Quality Planning round out the profile of hybrid owners, showing that Toyota Prius owners receive 65 percent more traffic tickets than gas-powered vehicles per 100,000 miles.

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