Report: Prices of car spare parts up between 25pc and 60pc
KUALA LUMPUR, Aug 15 — The ongoing armed conflict in Europe and the trade war between China and the US has driven up prices of vehicle spare parts in Malaysia, according to local automotive dealers.
Automotive Accessories Traders Association of Malaysia president Lim Bee Choo said prices have also increased for engine oil and tyres, The Star reported today.
“There is a shortage of spare parts, especially for cars made in Europe. This has caused prices to increase by about 25 per cent,” she was quoted as saying.
Lim noted that Russia has suspended its energy supply to Europe in response to the European Union’s sanctions, causing a power crisis in the continent that meant factories were unable to operate.
She also said that China’s zero-Covid policy, in which strict lockdowns are imposed in places with an outbreak, has also disrupted the supply of parts for Japanese and South Korean vehicles.
“A lot of the components for cars made in Japan and South Korea are made in China, so this policy is affecting supply,” she explained.
Malaysia Automotive Prosper Entrepreneurs Association president Mohd Karim A. Rahman indicated that the price hike for spare parts could be as much as 60 per cent, depending on what needed replacements.
He said that for tyres, engine oil, and lubricants, the price is generally between 10 and 15 per cent.
“The price of lubricant usually goes up only 2 per cent to 3 per cent every two to three years, but this year the price has gone up twice,” he was quoted as saying.
Due to the huge price hike, Mohd Karim said that mechanics would check with their customers and get their confirmation to proceed before placing an order, which delays the replacement.
“Usually, it will take about a week for us to order the parts from our suppliers but nowadays, it would take a month for the parts to arrive,” he told the newspaper, adding that the price would eventually be borne by the customers themselves.
Mohd Karim also advised vehicle owners to be wary of buying spare parts online that may be cheaper due to their dubious quality.
