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Service Contract Pricing: Televisions:
The average TV service contract costs 15% of the TV's price, but there are a wide range of offerings online. One administrator wants just $50 to cover a $1,500 high-end OLED TV, while another wants one-third of the purchase price to cover a cheap LCD TV. We also found that big-box warehouse clubs are now bundling in free extended warranties as membership bonuses.
Dec 19, 2024
Nine-Month U.S. Truck Industry Warranty Metrics:
The four major U.S.-based truck manufacturers have seen product warranty claims costs increase, but have decreased their warranty accruals. At the same time, Paccar has seen amortized revenue from extended warranties increase, and Trane has seen new service contract sales increase.
Dec 05, 2024
Right to Repair Rule Change:
A new exemption to the Digital Millennium Copyright Act allows third party repairs to restaurant and medical equipment that use copyrighted software, including McDonald's ice cream machines. What does this mean for the growing right to repair movement in the United States, and how will this change with the next presidential administration?
Nov 28, 2024
Extended Warranty Revenue Trends:
Because so many extended warranty programs are run by small private companies or by huge companies that don't break out their service contract revenue, it's almost impossible to size the business accurately. This week, we're looking at data from three industry leaders, Assurant, Frontdoor, and Lowe's, to get a sense of the state of the American service contract industry.
Nov 21, 2024
Worldwide Jet Engine Warranty Expenses:
In 2023, the top global jet engine OEMs paid $1.58 billion in warranty claims, set aside $1.88 billion in warranty accruals, and held a collective $4.88 billion in warranty reserves. The industry average claims rate was 1.29%, and the average accrual rate was 1.53%.
Nov 14, 2024
Worldwide Aviation Warranty Expenses:
In 2023, the global airframe OEMs paid $1.18 billion in warranty claims, set aside $1.07 billion in warranty accruals, and held a collective $6.76 billion in warranty reserves. It's remarkable that claims paid exceeded accruals made, a finding that would be more concerning if we hadn't taken a closer look at Boeing's expenses to find additional hundreds of millions deposited as changes of estimate to accruals made in previous years.
Nov 07, 2024
Worldwide Heavy Equipment Warranty Report:
In 2023, the worldwide heavy equipment industry paid $4.6 billion in warranty claims, and set aside $6.6 billion in warranty accruals. The average claims rate was 1.17%, and the average accrual rate was 1.4%.
Oct 31, 2024
Solar Power Warranty Expenses:
SunPower just filed for Chapter 11 bankruptcy in August, leaving behind ongoing 25-year product warranties, for which its suppliers are now on the hook. On the industry level, it seems that the claims rate exceeding the accrual rate is becoming a concerning new norm.
Oct 17, 2024
Worldwide Auto Warranty Report:
In 2023, the global automotive manufacturers paid $51 billion in warranty claims, with an average claims rate of 1.98%, and set aside $65 billion in warranty accruals, with an average accrual rate of 2.52%. At the end of 2023, the worldwide automakers held a total of $140 billion in warranty reserves.
Oct 03, 2024
Warranty Innovation Awards:
The first annual Warranty Innovation Awards were bestowed on five recipients at the Extended Warranty & Service Contract Innovations conference in Chicago this week. We caught up with the winners and learned their best practices for success in the warranty and service contract industry.
Sep 26, 2024
Electric Vehicle Warranty Expense Rates:
While EV adoption rates have wavered in the United States, they're going steady in China and Europe. We're looking at the warranty expense rates of nine EV pure plays, including the two largest competitors, BYD and Tesla, along with a number of newer startups.
Sep 19, 2024
Top Korean & Indian Automaker Warranty Expenses:
Hyundai and Kia had another tough year, marked by recalls of millions of their vehicles. On the back of a 2022 also filled with recalls, the warranty expenses of the two South Korean vehicle manufacturers are higher than ever. Tata, on the other hand, has become consistent in its warranty accounting, years after its acquisition of Jaguar Land Rover.
Sep 05, 2024
Mid-Year U.S. Auto Warranty Report:
We've all heard about Ford's recent warranty woes, after the company's stock plummeted due to higher-than-expected warranty costs highlighted in the company's second quarter earnings report. This week, we're analyzing the warranty data behind these headlines, and hearing from Ford's leaders and industry experts on where Ford might have gone wrong.
Aug 29, 2024
Other U.S. Product Warranties:
Some manufacturers defy categorization into an industry group. Many of them still offer product warranties, for goods including vapes, exercise equipment, jewelry, oil and gas infrastructure, water management, domestic robots, coolers, body cameras, and tactical gear.
Aug 15, 2024
U.S. Medical & Scientific Equipment Warranties:
GE HealthCare spun off in early 2023, and provided historical data back to 2020, transforming the dynamics between X-Ray and other medical equipment manufacturers. X-Ray manufacturers used to have lower totals but higher expense rates, while other medical equipment manufacturers were the opposite; now, trend's been broken, and the gaps between the totals and expense rates of the two groups have closed significantly.
Aug 08, 2024

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