Vehicle repair bills on the rise?
Vehicle repairs in the UK could be set for a significant price hike if European Union (EU) rules around components come into force…
The EU is set to announce that from 2023, small businesses MUST use manufacturer-branded parts when repairing vehicles, meaning that prices could be on the rise.
But hang on, didn’t we leave the EU?
Yep, but under the rules of the post-Brexit agreement, the UK could still follow suit – but the government doesn’t automatically follow new EU competition rules…
So, what does it mean?
Independent garages and vehicle repair shops will often use inexpensive parts that are not sold or endorsed by the manufacturer, which reduces costs for drivers and fleet owners.
From 2023, that won’t be allowed in the EU.
It means that the parts will be more expensive, and as a result, the repairs will be too.
Experts have estimated that should the UK follow suit and enforce the rules, the average vehicle repair and maintenance will cost £100 more, and the UK’s total repair bill could rise by as much as £2.4 billion.
Is it REALLY happening?
Well… there’s still a chance it won’t.
The Competitions and Markets Authority is in discussions with the government over the rules, and the Business Secretary is set to make a final decision in the coming months.
So, what do you think – are the potential changes a good or bad thing? Are you aware of potential price rises, and how might it affect you?