NEW CARFAX INSIGHTS ON ACCIDENT TRENDS
On January 28, 2023, CARFAX released data revealing trends in vehicle accidents across the U.S. Georgia recorded the highest accident rate, followed by Kentucky and South Carolina. Conversely, Oregon led in the fewest accidents per 1,000 vehicles, trailed by Hawaii and Alaska. CARFAX estimated that vehicles with damage history lose about $400 in wholesale value and over $500 in retail value. Severe damage can cause losses exceeding $2,000 wholesale and $2,700 retail. Approximately 40% of U.S. vehicles have some damage, impacting their resale value significantly.
- CARFAX provides valuable vehicle history data that helps inform used car buyers.
- The ability of CARFAX reports to highlight previously unreported accidents can enhance transparency in vehicle sales.
- High accident rates in southern states may deter potential car buyers.
- The significant depreciation in value for vehicles with damage may lead to financial losses for sellers.
Rates Often Vary by Region
Georgia Kentucky South Carolina - Louisiana
North Carolina Alabama Rhode Island New Jersey Indiana Tennessee
"Several southern states suffer from higher accident rates," said
Here are the Top 10 states with the fewest accidents per 1,000 vehicles in each state:
Oregon Hawaii Alaska California Vermont Pennsylvania Maryland Virginia Montana Washington
Accident history is the No. 1 thing used-car shoppers look for in a vehicle's history. CARFAX estimates that the average impact on value for a vehicle with damage in its past is almost
CARFAX estimates as many as
"I love what CARFAX has done over the years to get more data and to provide more detailed accident information," said Vaida Presniakovaite, President of Midway Autohaus in
"Oftentimes CARFAX vehicle history reports will actually show an accident where others won't," said
CARFAX data shows one in four cars are sold within a year of being in a damage-causing incident.
Editor's note: Reporters are welcome to visit the CARFAX booth (#1215) at the
About CARFAX
CARFAX, part of S&P Global Mobility, 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 CARFAX Used Car Listings,
S&P Global Mobility is a division of
View original content to download multimedia:https://www.prnewswire.com/news-releases/new-carfax-insights-on-accident-trends-301732959.html
SOURCE CARFAX