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Cost of living crisis deepens: Vehicle repair prices rise by a staggering 33% year-on-year
<p>Data analysis from Intelligent Motoring, the parent company of MotorEasy, Motokiki and Warranty Assist, reveals the cost of vehicle repairs has risen on average by 33% January-June 2022, compared to the same period in 2021.   </p><p> </p><p>Analysis of over 12,000extended warranty claimspaid by Intelligent Motoring,covering 31 makes and 144 models of vehicle,confirms the average price of a repair duringJanuary-June 2021 was £279 compared to £372 January-June 2022. </p><p> Ongoing supply chain issues, rising energy and fuel prices and a shortfall in skilled motor technicians are powering motorists’ service, maintenance and repair woes. 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. </p><p> </p><p>However, savvy motorists who have locked into an extended warranty programme will be protecting themselves from short-term rises as well as arming themselves against any unplanned repair costs.Furthermore, with used car sales enjoying record highs because of new car supply issues, motorists who have their vehicle professionally serviced, maintained and repaired – backed by records of work undertaken - will be able to demanda higher price when selling it on. </p><p> </p><p>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.” </p><p> </p>
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