All-Time High Car Repair Costs Underline the Value of Extended Warranties

The rising cost of car repairs is hitting consumers and repairers hard. According to the Motor Ombudsman's latest annual survey of vehicle repairers, more than half of repairers expect motorists to reduce essential repairs to save money. Going further, repairers expect that 48% of vehicle owners will forgo ad hoc maintenance and routine servicing to cut running costs in the short term.

“These figures are alarming for financially strained consumers and for the aftersales departments of dealers, whose revenues are already being challenged by rising sales of low maintenance EVs,” observes Joff Suter, Sales Director at AutoProtect Group.

Car drivers holding back on essential maintenance and repairs could find themselves unable to afford any unexpected sudden mechanical failures. Joff believes that positive action by dealers could help alleviate at least some of the risks they face, concluding;

“Dealers can help themselves and their customers by promoting value-added services, such as quality warranties and recovery packages, at affordable prices, particularly by offering or promoting warranties over longer periods to alleviate some of the risks, especially as the car parc ages generally.

In the longer term, it could support customer retention and facilitate the return of quality used stock that a dealer wishes to retail due to its service and repair history.”

Read the full story on Motor Trader.