Covid has been tough, but it's now affecting the vehicle spare parts market as well
COVID-19 has been a tough situation to handle for almost everyone in the world, including here in Malaysia where the daily cases are still in the thousands. Now, the spare parts market could possibly see an increase in prices, and it could up to 60%. Ouch.
Several news portals have reported that this short-term price increase for the local spare parts market in the country is due to two major key factors - supply and transportation costs. And this will most likely affect the used parts market as well because of import duties and again, charges for delivery or transportation. Double ouch.
Workshop operators will be the ones facing the disgruntled customers as they have no choice but to follow up with the price hikes in order to survive, even if it's as considerable as over 60%. Things like tyres, engine oils, and more will all be affected by the price increase, and the vendors have already sent out the 'new' prices to some of the workshops around the Klang Valley.
Even the Malaysian Automotive Association (MAA) has expected the price hike for spare parts, but 60% for some is a bit too much to burden, especially when some Malaysians are struggling just to survive. Let's just hope that things will return to 'normal' as soon as possible because 'daddy' needs a new set of tyres.