Price of parts rises 25% in five years
Bodyshops are choosing to repair more vehicles than they replace, with the cost per vehicle part rising by 25% over the past five years.
New research by claims solution provider Audatex found that the number of parts replaced per job had fallen by nearly 24% over the past five years, while the average price of an individual part had risen to more than £75 from £60 in the same period.
The overall cost of parts per repair job had risen by a 4% at the same time.
Audatex managing director Paul Sykes said: “Insurers have implemented repair versus replace programmes, incentivising their repair network to encourage bodyshops to repair more parts than they replace.
“In addition, new repair tools and techniques have been introduced making it easier to repair parts.”
Sykes said the benefits of repair include eliminating the time spent waiting for ordered parts, reduced overall repair costs for insurers and fewer total losses.
Zurich Motor VM and engineering manager Nick Blacknell said: “I think the reason for the figures is the sheer amount of new technology that facilitates the repair of these parts, making it better for the car and the customer to repair rather than replace.
“But there are other reasons too. Bodyshops don’t make as much money from parts as they do through labour and the costs of parts are a lot less competitive.”