Toronto, Ontario — Enterprise has now released its fourth quarter 2024 Length of Rental (LOR) data, which indicates that while collision-related rental days decreased in the year, they are still higher than the start of the pandemic.
The report indicates the overall LOR for collision-related rentals in Q4 2024 was 15.4 days, a one-day decrease from Q4 2023.
Comparatively, when looking at the report more specifically, compared to Q4 2022, overall LOR was 17.1 days, while Q4 2021 was just 12.8 days. As a result, even with the full-day decrease in 2024, overall results are still 3.6 days higher than that of four years ago.
From a provincial perspective, Alberta had the highest LOR at 18 days, followed closely by Newfoundland and Labrador at 16.4 days and Nova Scotia at 16.3 days.
Comparatively, Prince Edward Island had the lowest LOR at 12.6 days, with Quebec at 14.8 days having the next lowest.
Here, Ontario also had the largest decrease with Q4 2024 results declining by 2.1 days compared to Q4 2023.
When looking at drivable LOR, the report indicates that Q4 2024 was virtually unchanged from Q4 2023’s results of 12.6 days, with a slight decrease to 12.5 days.
Provincially, Alberta had the highest LOR at 15.5 days, followed by Ontario at 13.1 days. Comparatively, Quebec had the lowest LOR at 9.4 days but was just barely ahead of P.E.I’s results of 9.5 days.
Non-drivable LOR also saw a significant decline in Q4 2024 with a drop of 5.3 days. Comparatively, non-drivable LOR in Canada was 31 days in Q4 2022.
Newfoundland and Labrador had the highest non-drivable LOR at 33.7 days, followed by Alberta at 29.3 days and Nova Scotia at 27.9 days. Quebec had the lowest results at 20.2 days.
Finally, when looking at total loss, in Q4 2024, results came in at 20.3 days, a 33-day decrease.
P.E.I. had the highest LOR at 31.5 days, while Newfoundland and Labrador had the lowest total loss LOR at 13.9 days.
The post Enterprising Data: LOR still higher than start of pandemic despite decrease in fourth quarter, 2024 appeared first on Collision Repair Magazine.
