The automotive parts shortage that the industry is experiencing today goes far beyond just the shortage of microchips. Today, there is a wide cross-section of automotive parts that are in short supply varying by type of part and make and model of vehicle.
January 5, 2022
Part and labor prices have increased 4-8%, while part and labor availability have decreased. Due to difficulties sourcing replacement vehicles, fleets are keeping units in service longer. This caused repair spend to increase in 2021.
November 1, 2021
Many tire OEMs have increased prices in CY-2021, ranging from 3-10% depending on type of tire and size. Higher commodity prices and increased ocean freight rates are being passed on to end users as OE profit margins compress.
October 26, 2021