Expect Higher Maintenance Costs? Suppliers Warn Of Upcoming Price Revisions For Tyres & Spare Parts

Just when we thought our wallets could catch a break after the long weekend, the automotive world has some tough news for Malaysian drivers. If you’ve been putting off that visit to the workshop, you might want to book an appointment immediately.

Vehicle owners across the country are being warned to brace for higher servicing and maintenance bills starting this month.  While a massive 10% price hike already hit engine oil brands back in May, industry players are now warning that a tricky "domino effect" is about to push up the cost of several other essential car components starting this June, The Star reported. 

If you're wondering why your next mechanic bill is about to look a little different, here is the full breakdown of what's going up and why:

1. Why is this happening all of a sudden?

The sudden surge in prices comes down to global logistics and energy market volatility. According to reports by The Star, the ongoing conflict in West Asia has caused severe uncertainty in global energy markets.

Because crude oil prices fluctuate, it creates a massive chain reaction across the entire automotive aftermarket industry. Since a huge percentage of car components are either made from petroleum-based materials or heavily rely on global shipping lanes, suppliers are being forced to adjust their pricing.

2. The parts facing "price revisions" from June onwards

While engine oil retail prices already jumped by RM10 to RM25 per bottle in May, suppliers have indicated that other vehicle maintenance products could see price revisions from June onwards:

• Tyres & Spare Parts: Industry players noted that uncertainty in global energy markets resulting from the ongoing conflict in West Asia may affect the pricing of tyres and spare parts. Suppliers have informed dealers to expect price revisions from June, though they have not told them exactly when the increases will take effect.
• Even Plastic Bags! In a direct reflection of rising costs, even the plastic bags used by shops to pack the items they sell have gone up in price because they are petroleum-based products.

Workshop operators note that while smaller and cheaper parts may only see a slight increase that vehicle owners may not feel immediately, the cost quickly adds up when several items go up at the same time.

3. The "Old Stock" loophole (How to beat the hike right now)

There is a small silver lining if you act fast.

Right now, many spare parts shops and auto service centers are still selling through their existing inventory. Shop owners have confirmed that they are keeping prices at the old rates for now to protect customers.

However, the moment those old stocks run out and the new, pricier shipments arrive at the workshop, the price increases will officially be passed on to the consumer.

Some smart Malaysian car owners have already managed to beat the system. One driver revealed she sent her family's two cars in for early engine oil and tyre changes right before June, successfully saving her around RM200 in the process.

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Read: Buying A Car Soon? 5 Big Changes That Took Effect On 1 June That You Need To Know