Auto parts prices have risen
PETALING JAYA: The next time you send your car in for servicing or parts are replaced, expect it to burn a bigger hole in your pocket as spare parts prices skyrocket.
Auto dealers said the global supply of vehicle parts had been badly affected since the Covid-19 pandemic, with the situation worsened by the Russia-Ukraine conflict and the US-China trade war.
The chairman of the Auto Accessories Traders Association of Malaysia, Lim Bee Choo, said prices for spare parts had risen by 25%.
“There is a shortage of spare parts, especially for cars made in Europe. This resulted in a price increase of around 25%,” she said.
Lim added that Europe was currently facing an energy crisis after Russia suspended its supply from the continent following European Union sanctions.
“Without energy, factories cannot function,” she said.
China’s zero-Covid policy, in which strict lockdowns are imposed in the event of an epidemic, has also disrupted the supply of parts for Japanese and South Korean vehicles.
“A lot of components for cars made in Japan and South Korea are made in China, so this policy affects supply,” Lim said, adding that the price of engine oil and tires also increased due to of the world situation. .
Malaysia Automotive Prosper Entrepreneurs Association (President Mohd Karim A. Rahman said spare parts prices have increased by 60% depending on the parts to be replaced.
He added that in addition to spare parts, the price of tyres, engine oil and lubricants had also increased by 10-15%.
“Lube prices usually only go up 2-3% every two or three years, but this year the price went up twice,” he said.
Mohd Karim added that due to rising parts prices, mechanics would first discuss prices with customers before ordering an item.
“Usually it takes us about a week to order the parts from our supplier, but nowadays it would take a month for the parts to arrive,” he said, adding that the price would ultimately be borne by the customers. customers themselves.
Mohd Karim also advised vehicle owners to be wary of parts sold online as the quality of the product would be questionable.