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Auto parts prices surge 27.7% in Russia — Association

23 December 2022 20:44 (UTC +04:00)

Auto parts prices in Russia hiked by 27.7% in average as of December 19 against data of March 19 (the date of one of updates in the parts reference) - President of the Russian Association of Motor Insurers (RAMI) and the All-Russian Insurance Association (ARIA) Evgeny Ufimtsev said on Friday, APA reports citing TASS.

"The price hike in the reference of December 19 stood at 27.7% as compared to the reference of March 19. That is, we are actually at present at the spare parts price level evolved in April - June 2022, after introduction of economic sanctions and the withdrawal of major automakers from the Russian Federation," Ufimtsev said.

Prices increased many-fold for certain spares, according to RAMI. For example, price surged twofold in average for Nissan and Mitsubishi lights and the appreciation was up to three times for certain models. The dramatic growth was also registered for some bumper and door parts. Such auto parts normally do not have replacements or equivalents and it is not simple to arrange parallel import of such parts, RAMI noted.

The rise in prices has not actually affected automobile brands with spares production established in Russia, Ufimtsev added.