Higher maintenance cost looms in Malaysia as prices of car parts hike up to 60%

Car prices aren't the only thing on the uptrend, as prices for various spare parts are also surging ahead, according to reports by Nanyang Siang Pau and The Star.

Lim Bee Choo, president of the Automotive Accessories Traders Association of Malaysia, said spare part prices have gone up between 10% to 25%.

Dealers say that the supply of parts to Malaysia has been hindered since the Covid-19 pandemic, and has further struggled in the face of the US-China trade war as well as the Russia-Ukraine conflict. The weak Ringgit, as well as the global shortage of semiconductors, are also factors to these hikes.

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Lim explained that Europe currently faces an energy crisis after Russia suspended its supply to the continent following sanctions by the European Union, and without energy, factories are not able to produce these parts.

Meanwhile in China, their zero-Covid policy which sees strict lockdowns imposed if there's an outbreak, has further disrupted parts supply 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. Following this, she adds that prices of engine oil and tyres have also increased.

Meanwhile, Malaysia Automotive Prosper Entrepreneurs Association president Mohd. Karim A. Rahman said that prices of some spare parts has gone up by 60%, depending on what needs to be replaced.

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He adds that prices of tyres, engine oil, and other lubricants have shot up between 10% to 15%, saying that prices of lubricants have gone up twice this year alone.

“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,” said Mohd. Karim, adding that prices would eventually be shouldered by customers.

He advised vehicle owners to be wary of parts that are sold online, as they could be of dubious quality.

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