PETALING JAYA: The next time you send your car for servicing or have parts replaced, expect it to burn a bigger hole in your pocket as spare part prices are racing ahead.
Automotive dealers said the global supply of vehicle spare parts had been badly affected since the Covid-19 pandemic, with the situation made worse by the Russia-Ukraine conflict and the US-China trade war.
Automotive Accessories Traders Association of Malaysia president Lim Bee Choo said spare part prices had gone up by 25%.
“There is a shortage of spare parts, especially for cars made in Europe. This has caused prices to increase by about 25%,” she said.
Lim added that Europe was currently facing an energy crisis after Russia suspended its supply to the continent following the European Union’s sanctions.
“Without energy, factories are not able to operate,” she said.
China’s zero-Covid policy, in which strict lockdowns are imposed if there is 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,” said Lim, adding that the price of engine oil and tyres have also gone up as a result of the global situation.
Malaysia Automotive Prosper Entrepreneurs Association (president Mohd Karim A. Rahman said that the prices of spare parts had gone up by 60% depending on the parts that needed to be replaced.
He added that besides parts, the price of tyres, engine oil, and lubricants has also increased by between 10% and 15%.
“The price of lubricant usually goes up only 2% to 3% every two to three years, but this year the price has gone up twice,” he said.
Mohd Karim added that due to the price hike in parts, mechanics would discuss pricing with customers first before ordering any item.
“Usually, it will take about a week for us 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 eventually be borne by the customers themselves.
Mohd Karim also advised vehicle owners to be wary of parts that are sold online as the quality of the product would be questionable.