Colombia. International inflation, the increase in the value chain and the devaluation of the Colombian peso against the US dollar have created a phenomenon of increased costs in the country.
This is supported by the Center for Experimentation and Road Safety (Cesvi) of Colombia. This company assures that this situation is aggravated when considering that, with the increase in the Legal Monthly Minimum Wage in force below inflation, a reality of loss of purchasing power is created with respect to what was had years ago.
With regard to the repair sector, due to average cost increases in the repair of damaged vehicles, high increases in the prices of new vehicles, growth in the values of spare parts price lists and their insufficient availability, Cesvi Colombia conducted a study based on the purchasing power that has been lost each year and compared with the variables that afflict the sector.
Based on the best-selling sedan type vehicles in the most representative brands of the market (Renault, Chevrolet, Nissan and Mazda), and with the support of the Fasecolda securities guide, the Basic Spare Parts Basket Model of Cesvi Colombia and data from the National Department of Statistics DANE regarding the Minimum Wage, it can be observed that, while the SMMLV grew by 40.1%, the cost of vehicles and the basic basket of spare parts rose by 58% (see table).
This situation is explained by the insufficient supply of spare parts that is currently in the country, which has led to the values of the year 2019 growing disproportionately.
It can be seen that, while in 2019 to acquire a new vehicle of this range an outlay of 39 SMMLV was required, currently 44 SMMLV are required.
This indicates a loss of purchasing power of 12.9% in this period.
Most demanded spare parts
On the other hand, blows in the front and rear sections are the most frequent accidents. It is for this reason that vehicle brands increase the cost of acquiring spare parts belonging to these sections.
According to the information model (MISA), the Basic Spare Parts Basket of these sections consists of 23 pieces and can cost 50% of the total value of a new vehicle.
In the last table we can see that in 2019 the spare parts of the front section could be purchased with around 6 SMMLV, while for 2023 10 SMMLV are required.
The same happens in the rear section, where there is an increase of approximately 4 SMMLV by 2023, compared to 2019.
Cesvi Colombia calls for restraint and vigilance of vehicle repair costs because when they exceed certain limits the consumer is forced to look for alternatives without technical criteria, which affects the safety of the vehicle and its occupants.
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