You are not the only one who has noticed that prices have jumped significantly.
You might have felt a little bit of sticker shock when you went in for a repair. It’s not only because of inflation. The last eight years have seen prices rise by a significant amount, at least for those who live in Germany. According to the German Insurance Association (Gesamtverbands der deutschen Versicherungswirtschaft or GDV), prices have gone up by six percent compared to last year.
The most shocking statistic is the recent price rise. According to the GDV, auto spare parts prices have increased by 44 percent over 2013 prices. This also includes inflation. This is not all. According to the agency, spare parts prices in Germany are almost three times higher than the general inflation rate. The agency says it is an understatement to say that spare parts prices have risen over time.
What is the reason for this sharp rise? According to the GDV, it is due to a monopoly of some manufacturers. The GDV claims this is because third-party cannot raise prices due to ‘design protect’ by the automakers. Anja KaferRohrbach is the deputy managing director of GDV. She stated that motorists and workshops cannot buy spare parts from the automaker. There is no fair and free competition in the market.
Other interesting findings were also made by the GDV. The GDV’s findings showed that trunk lid prices increased by 60%. The prices for tail lights went up by a staggering 67 percent. There may also be other factors. Vehicle lighting systems have become more complicated than the parts of 2013. Aluminum is used more frequently these days than ever, so some materials are more expensive. The price rise is still significant enough for Germany’s insurance company to be concerned.