Infiniti’s car parts prices fall 0.4% year on year – RTE
Infinitias car parts price fall in 2017 has been revised downward by 0.3% to €9,065, according to car parts supplier Car Parts International.
The annual decline of 0.2% in the previous year has been driven by a 2.9% drop in the prices of petrol and diesel car parts and a 6.5% decrease in the price of the aluminium alloy components.
The total car parts retail price in Ireland fell by 0,2% to EUR1.23 billion in 2017, from EUR1,321.4 million in 2016.
This is the second consecutive year that the figures have dropped, and follows a similar decline in 2017.
The fall in car parts costs has been attributed to lower supply due to the Brexit referendum, and a gradual reduction in the supply of components, which will allow manufacturers to sell more products.
However, car parts supplies remain in high demand.
The average demand for parts has been increased by 5.7% since the beginning of the year, and demand for new car parts is expected to remain strong throughout the year.
The car parts industry in Ireland was valued at €1.3 billion in 2016, according with an annual growth rate of 0,9%.
In the last three years, demand has been stable, and this year’s figures are likely to be in line with that.
The Car Parts Ireland (CCI) and Irish Automotive Industry (IAI) groups are both providing services to car manufacturers in Ireland.
CICI has been in business for over 70 years and employs nearly 10,000 people across the country.
IAI provides services to over 1,000 manufacturers in Europe and provides the infrastructure for these manufacturers to operate.