With engine oil prices rising in May amid global market uncertainties linked to the Middle East conflict, industry players are now watching the month of June closely to determine whether vehicle spare parts will follow suit.
Car spare part dealer Ken Ng said engine oil prices rose by 10% in May, causing a price increase of between RM10 and RM25 for various types of vehicle lubricants.
“Popular engine oils that move quickly are being restocked at higher prices. For now, we are still selling existing stock at the old price but once the new shipments arrive, the increases will have to be passed on to customers,” he said.
Ng said the rise in engine oil prices would likely trigger a domino effect across the automotive aftermarket industry.
“This is unavoidable. Vehicle maintenance cannot be postponed indefinitely regardless of whether prices go up or not. Since the day I got into this business four decades ago, prices have only gone up and never down.
“Even the plastic bags we use to pack the items we sell have gone up in price because they are petroleum-based products,” said Ng, who runs a spare part shop in Section 8 here.
To counter the price increase, Ng said there is a growing trend among consumers to switch to cheaper engine oil brands.
PS Tyres & Battery Auto Services manager Teoh Yong Wah, who voiced similar concerns, said suppliers have already informed dealers to expect price revisions from June onwards.
“Engine oil prices went up in May. Suppliers have also indicated that tyre and spare parts prices could also rise from June but we have not been told exactly when the increases will take effect,” he said.
Teoh added that motorists may not immediately notice the impact on lower-priced components but the cumulative effect of multiple price increases could eventually raise overall costs.
“Smaller and cheaper parts may only see a slight increase and vehicle owners may not feel the difference immediately. However, when several items go up at the same time, the cost adds up,” he said.
Businessman Desmond Wong, who deals in digital products, said he has little choice but to pass on higher vehicle maintenance costs to his clients.
“It is not something I want to do but I do not have much of a choice. Transport costs have already increased and now vehicle maintenance expenses are also going up.
“For businesses, the fuel subsidy is barely enough to cover our monthly travel expenses. Any additional costs will eventually have to be absorbed somewhere,” said Wong, 55.
For car owners like Jacqueline Cha, a 10% increase in maintenance costs would still be manageable for her family’s two vehicles.
“Fortunately, we own reliable car models with widely available and affordable replacement parts, which helps keep our maintenance costs under control,” she said.
Anticipating the price hike, she said she had sent her cars for servicing, which had included engine oil changes as well as new tyres.
Cha, a 50-year-old teacher, estimated that this had saved her about RM200.
“But whether prices rise by 10% or even more, vehicle maintenance is essential. Delaying or skipping servicing can lead to more costly repairs later due to premature wear and tear on the engine,” she said.
