Auto parts price doubles due to record demand
- October 3, 2022
- 0
Consumer interest in buying auto parts has increased 23 times, according to Wildberries analysts. At the same time, prices in the Russian auto parts market rose by 35-65%
Consumer interest in buying auto parts has increased 23 times, according to Wildberries analysts. At the same time, prices in the Russian auto parts market rose by 35-65% due to the departure of foreign manufacturers, exchange rate volatility and supply chain disruption.
In September, online retailer Wildberries registered record demand for auto parts. The interest in buying the necessary components has increased 23 times compared to the first month of autumn in 2021. Representatives of the e-commerce site believe that such dynamics are mainly associated with a decrease in the income of the population. “People are choosing to service and repair their cars rather than buy new ones,” the WB said in a statement.
It is noted that most often car owners buy brake discs and pads, fuses, spark plugs, stabilizer bars, oil, air, cabin and fuel filters, high-voltage wires, hub bearings. Preference is given to parts from Japanese, Chinese and Korean manufacturers.
However, the increased demand only complicates the market situation and becomes a reason for an extraordinary increase in the cost of auto parts. Thus, according to experts from RIA Novosti, the cost of spare parts has increased by 35-65% since the beginning of the year, depending on the car brand.
“On average, prices for spare parts for passenger cars increased by 32 percent. In the top are components for Ford, Subaru, Suzuki, Renault, Audi, Mazda, Volvo. So, according to one of the largest Russian networks of car services, motor oil for mass-produced Kia Rio and Hyundai Solaris added 40%, front and rear blocks – 65%. Air filter for BMW – 65%, synthetic motor oil – 40%,” the agency writes.
Among the main reasons for the increase in the cost of machine components are the lengthening of supply chains, the departure of global brands from Russia, the volatility of external and domestic exchange rates, as well as the depression of the general international agenda.
Photo: www.sventli.ee
In September, online retailer Wildberries registered record demand for auto parts. The interest in buying the necessary components has increased 23 times compared to the first month of autumn in 2021. Representatives of the e-commerce site believe that such dynamics are mainly associated with a decrease in the income of the population. “People are choosing to service and repair their cars rather than buy new ones,” the WB said in a statement.
It is noted that most often car owners buy brake discs and pads, fuses, spark plugs, stabilizer bars, oil, air, cabin and fuel filters, high-voltage wires, hub bearings. Preference is given to parts from Japanese, Chinese and Korean manufacturers.
However, the increased demand only complicates the market situation and becomes a reason for an extraordinary increase in the cost of auto parts. Thus, according to experts from RIA Novosti, the cost of spare parts has increased by 35-65% since the beginning of the year, depending on the car brand.
“On average, prices for spare parts for passenger cars increased by 32 percent. In the top are components for Ford, Subaru, Suzuki, Renault, Audi, Mazda, Volvo. So, according to one of the largest Russian networks of car services, motor oil for mass-produced Kia Rio and Hyundai Solaris added 40%, front and rear blocks – 65%. Air filter for BMW – 65%, synthetic motor oil – 40%,” the agency writes.
Among the main reasons for the increase in the cost of machine components are the lengthening of supply chains, the departure of global brands from Russia, the volatility of external and domestic exchange rates, as well as the depression of the general international agenda.
Source: Avto Vzglyad
I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
