CARFAX Predicts Reliability And Repair Costs For Consumers

Rhea-AI Summary

CARFAX recently unveiled new data indicating that full-size SUVs are the most likely vehicles to require repairs in the next 12 months, with a 24.6% chance and an average repair cost of $330. Midsize pickups exhibit the lowest repair likelihood at 11.1%. This analysis, based on over 27 billion vehicle history records, aims to assist consumers in making informed decisions when purchasing used vehicles. The CARFAX platform now features a Reliability and Repair predictions tool, further enhancing consumer insights.

Positive

• CARFAX's new tool provides consumers with valuable predictions for vehicle reliability and repair costs.
• The analysis is based on a robust database of over 27 billion vehicle history records.

Negative

• Repair likelihood for full-size SUVs is notably high at 24.6%, raising concerns for potential buyers.
• The average estimated repair cost of $330 could deter consumers from purchasing full-size SUVs.

CENTREVILLE, Va., Nov. 9, 2021 /PRNewswire/ -- Consumers with full-size SUVs are more likely to need repairs within the next 12 months than any other vehicle segment, according to new data from CARFAX. The findings come from the CARFAX Reliability and Repair predictions feature that just launched on carfax.com and is available free to consumers.

People shopping for used cars worry about the chances of a vehicle breaking down unexpectedly and impacting their safety, along with the added costs of the repairs. Full-size SUVs have have the highest likelihood for repairs at 25% with an average estimated cost of $330. Additional findings from the CARFAX Reliability and Repair predictions indicate that midsize pickups are the least likely to need repairs within a year and and full-size cars have the lowest average repair cost.

Bodystyle	Avg. % Likelihood
Mid-size Pickups	11.1%
Small Cars	12.8%
Small SUVs	14.0%
Mid-size Cars	15.1%
Full-size Cars	15.4%
Full-size Pickups	18.0%
Luxury Cars	18.4%
Sports Cars	20.1%
Luxury SUVs	20.2%
Minivans	20.3%
Full-size SUVs	24.6%

* Data findings for 2015 – 2019 model years

"It means everything to me to have reliability," said CARFAX user Melody W. of Charlotte, N.C. "As a single female, getting from point A to B without hiccups is essential for my safety.  When taking the dog to the vet or making sure I am on-time for appointments, this is a big deal to me."

CARFAX Reliability and Repair Costs are part of the Vehicle Research Pages for consumers on the CARFAX website. Instead of relying on surveys, CARFAX bases its predictions on the analysis of more than 27 billion vehicle history records in its database.

"No one wants to be left stranded on the side of the road with a broken-down vehicle," said Travis Lewis, Head of Product at CARFAX. "For years, we've helped consumers and dealers understand the repair history for their vehicles. Now, our unique data and capabilities let us take things a step further. We're providing car shoppers with insights that help them better understand how reliable a car will be in the future."

CARFAX has Reliablity and Repair Costs data for most vehicles manufactured since 2010.

Editor's note: Interviews with a used car expert from CARFAX also are available at any time. Please contact PublicRelations@carfax.com.

About CARFAX

CARFAX, part of IHS Markit (NYSE: INFO), helps millions of people every day confidently shop, buy, service and sell used cars with innovative solutions powered by CARFAX vehicle history information. The expert in vehicle history since 1984, CARFAX provides exclusive services like CARFAX Used Car Listings, CARFAX Car Care, CARFAX History-Based Value and the flagship CARFAX® Vehicle History Report™ to consumers and the automotive industry. CARFAX owns the world's largest vehicle history database and is nationally recognized as a top workplace by The Washington Post and Glassdoor.com. Shop, Buy, Service, Sell – Show me the CARFAX™. Based in London, IHS Markit is a world leader in critical information, analytics and solutions.

 

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SOURCE CARFAX

FAQ

What did CARFAX announce on November 9, 2021, regarding vehicle reliability?

CARFAX announced that full-size SUVs are the most likely to need repairs within the next year at a rate of 24.6%.

How does CARFAX determine vehicle reliability predictions?

CARFAX bases its predictions on the analysis of over 27 billion vehicle history records.

What is the average repair cost for full-size SUVs according to CARFAX?

The average repair cost for full-size SUVs is estimated at $330.

Which vehicle type is least likely to need repairs within a year?

Midsize pickups are the least likely to need repairs, with a rate of 11.1%.