Brexit to bring price rises but it could favour the aftermarket

Peter Sephton of The Parts Alliance tells GW why a tight economy could favour the independent aftermarket

Brexit to bring price rises but it could favour the aftermarket

Speaking in an exclusive interview for GW Views, The Parts Alliance chief executive officer, Peter Sephton has said that he thinks it will be “business as usual” post-Brexit.

He explained: “Given that the aftermarket is by and large predicated on imported product, it’s put a lot of pressure on prices and ultimately that will pass through to the market, there’s no doubt about it and we’ll see that across all industries.

“The thing I’d say about Brexit, it hasn’t happened yet.

“Everyone is saying the economy has been robust in the wake of Brexit but that was just the vote, no real decisions of how and when it will be invoked have been made yet.

“I do think, from the size of the automotive industry, you have to believe that there won’t be any negative trade deals struck – I think it will be very much business as usual.

“There will be a longer term negative impact on our industry, the weaker pound is here to stay and that will put pressure on prices.

“All of the underlying conditions for the aftermarket are good.

“People are driving further, we have an aging car parc and because the economy is likely to tighten, that will favour our market as people seek more value and come into the independent aftermarket a little more quickly than they might have otherwise done.

“I’m not worried by Brexit, but I am conscious that it is impacting our input prices and that’s the reality we have to live with.”

This content first featured in GW Views, click here to read the complete interview as GW reveals what ‘local service, national strength’ means for the independent garage owner…

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Contact Michael Ruff on 07525 832 209, [email protected] or tweet @GarageWireUK.

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