Repair shop wages maintain loss cost inflation in physical damage: Progressive CEO

August 02, 2023

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Progressive CEO Tricia Griffith has noted that while used car prices are coming down, workers’ wages and labor capacity in body shops are sustaining the stickiness of loss cost inflation for auto physical damage.

On a call with analysts, the executive said: “I do think we might see some trends – like in used car prices as the supply chain issues came through et cetera – that might continue to go down.

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Repair shop wages maintain loss cost inflation in physical damage: Progressive CEO

Progressive CEO Tricia Griffith has noted that while used car prices are coming down, workers’ wages and labor capacity in body shops are sustaining the stickiness of loss cost inflation for auto physical damage.

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