Repair inflation at 33% and rising
- Posted by: Alan Feldberg
- Categories: Featured, News
New data has revealed that the cost of vehicle repairs between January and June has risen on average by 33% compared to the same period in 2021.
This is based on analysis of over 12,000 extended warranty claims paid by Intelligent Motoring, covering 31 makes and 144 models of vehicle. It confirms the average price of a repair during January-June 2021 was £279 compared to £372 January-June 2022.
Ongoing supply chain issues, rising energy and fuel prices and a shortfall in skilled motor technicians are powering the inflation, and this trend is likely to worsen according to the Motor Ombudsman.
Some 63% of independent garages and franchised dealer workshops surveyed by the Motor Ombudsman have said they will be looking to increase prices in order to stay afloat after a difficult opening six months of 2022.
Duncan McClure Fisher, CEO of Intelligent Motoring said: “Motorists have faced unprecedented increases in the cost of vehicle ownership in the last twelve months. Whilst rising fuel prices have dominated the headlines, escalating insurance premiums, increases in benefit-in-kind tax for company car drivers and higher borrowing costs have also contributed.”