Spare parts pricing for cars have seen a 44 per cent increase since 2013, a recent study conducted in Germany reveals. According to the German Insurance Association (GDV), pricing in this industry rose by six per cent just over the last year.
As Automobilwoche reports, the association analyses spare parts pricing for cars on an annual basis because these play a decisive role in repair costs after accidents. Over a long-term period, the constant rise in the price of car parts is even more noticeable. The increase of 44 per cent is almost three times larger than the general inflation rate of 13 per cent.
Parts that saw drastic increase in costs were the radiator grille at nine per cent more, boot lids at 60 per cent more and taillamps at 67 per cent more. The GDV criticises spare parts pricing for cars as a “quasi-monopoly”.
This relates to the design protection for visible body parts, which is why there are no cheaper third-party brands for many car parts. “Motorists and workshops can only buy many spare parts from the manufacturer of the car, there is no free and fair competition in this market,” criticized the deputy GDV managing director Anja Käfer-Rohrbach.
For insurers, the higher prices for spare parts contribute to rising repair costs after accidents. Last year, according to GDV, property damage to a car cost the motor liability insurer an average of around €3 100 (approximately R54 000) which is €700 (approximately R12 000) more than in 2013.