Catalyst car and parts supplier A-TECH has revealed the annual average price of car parts sold in Australia has been hit by a record-low in 2019, with the average price now $1.871 a unit.

“We’re seeing an increase in the cost of cars and parts globally, and in particular in the United States,” said Catalyst chief executive officer and managing director of marketing and sales Matt Williams.

“And we’re seeing that trend in Australia, where we’re going to see an increase this year as well.”

In 2017, the average cost of car components in Australia was $2.13 a unit, according to Catalyst.

The new year marks the first year the price of parts has not gone up, with Catalyst’s latest data showing the average for 2017 was $1 at the end of September.

Mr Williams said the decline in the average car price had been driven by a decrease in global demand.

“The last few years, globally we’ve seen a big increase in demand for car parts, so we’re now seeing that in Australia as well,” he said.

“That means that in terms of average prices across the entire supply chain, we’re getting down to the lowest prices we’ve ever seen.”

The Australian Automotive Association said it was a great time to buy car parts.

“Our members love buying car parts and they’re looking forward to the new year, so it’s good to see the industry growing in a way that is good for our economy,” said a spokesperson.