Rising Costs Lead US Drivers to Cut Car Insurance, Impacting Vehicle Salvage Market
Rising living expenses in the U.S. are leading many drivers to reduce or forgo car insurance coverage. This trend is impacting the secondary market for damaged vehicles, as fewer totaled cars are being reported and sent to resellers such as vehicle salvager Copart. The decrease in insurance claims for total losses is reshaping the volume and flow of wrecked cars available for resale and salvage operations.