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Since 2013, the cost of car spare parts has risen by more than 44%

According to a recent study conducted in Germany, the cost of car spare parts has risen by 44% since 2013. According to the German Insurance Association (GDV), pricing in this industry increased by 6% in the last year.


According to Automobilwoche, the association analyzes car spare parts pricing on an annual basis because these play a significant role in repair costs after accidents.

The constant rise in the price of car parts is even more noticeable over a long period of time. The increase of 44% is nearly three times greater than the general inflation rate of 13%.

The radiator grille was 9% more expensive, boot lids were 60% more expensive, and taillamps were 67% more expensive. The GDV calls car spare parts pricing a "quasi-monopoly."

This relates to design protection for visible body parts, which is why many car parts do not have cheaper third-party brands.

"Motorists and workshops can only buy many spare parts from the car manufacturer; there is no free and fair competition in this market," said Anja Käfer-Rohrbach, deputy managing director of GDV.

Higher spare-parts prices contribute to rising accident-repair costs for insurers.


According to GDV, property damage to a car cost the average motor liability insurer around €3 100 (approximately R54 000) last year, which is €700 (approximately R12 000) more than in 2013.


End..


By UpdatedDaily


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Source

CarMag

Content created and supplied by: UpdatedDaily (via Opera News )

Automobilwoche GDV German Insurance Association Germany

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