The current evaluation of the distribution of claims by CarGarantie shows that the general cost increases are not stopping at the average repair costs. In 2023, the average cost of repairing damages covered by warranty was 657 euros.
For 2023, the insurance and customer loyalty specialist CarGarantie has once again analysed around one million warranty contracts for new and used cars of all makes and models in its annual claims analysis in order to determine the average repair costs for damages covered by warranty. The trend towards ever higher costs that has been evident for years is continuing: In 2023, the average repair costs were around 657 euros. There had already been a jump in prices in 2022, which exceeded the € 600 mark for the first time at € 618. However, the increase in 2023 is even greater with a rise of almost 40 euros.
Motor remains most expensive component
As in previous years, the engine remains the most expensive component for both used and new cars. In the case of used cars, its share of the claims settlement total rose by two percentage points compared to the previous year (23.9%) to 25.9%. For new cars, it leads the list with 20.4% (previous year: 19.8%). In second and third place in 2023 are the fuel system including turbocharger with 17.6% (used cars; previous year: 18.0%) and 17.1% (new cars; previous year: 18.9%) and the electrical system with 13.4% (used cars; previous year: identical) and 14.7% (new cars; previous year: 13.2%).
Electrical system again most vulnerable component
Due to increasingly complex electrical and electronic systems in vehicles, the electrical system is also the component most frequently affected by defects in 2023. In used cars, its share of the damage frequency was 22.1% (previous year: 21.3%); in new cars, it accounted for 22.2% of damage (previous year: 20.2%). Once again, the fuel system is in second place for both vehicle types, accounting for 17.7% of damages to used cars (previous year: 18.2%) and 15.1% of damages to new cars (previous year: 17.1%). In third place for used cars is the engine with 14.0% (previous year: 12.6%) and for new cars the comfort electrics with 14.2% (previous year: 13.0%).
Damages occur a bit later
Compared to the previous year, damages occurred slightly later on average in 2023. In the case of used cars, 27.6% of damages occurred within the first 5,000 km. In the previous year, this figure was 29.2%. 21.2% of damages only occurred after more than 25,000 km (previous year: 18.5%). The occurrence of damages by days shows a similar picture: 25.8% of damages only occurred after more than 360 days. In the previous year, this figure was only 24.0 %.
Dr. Marcus Söldner, Chief Executive Officer CarGarantie:
"The trend towards further price increases has been apparent for years. In the previous five years, repair costs had already increased by a total of around 100 euros. However, the current increase of almost 40 euros within a single year is extraordinary. There are many reasons for this: international crises make raw materials and spare parts more expensive and lead to increased inflation and economic uncertainty, which has a significant impact on prices. Unfortunately, there is currently no quick end in sight to these crises, so it is quite possible that this increase will continue.
This makes it all the more important for dealers to protect themselves against such financial risks. CarGarantie's warranty and repair cost insurance policies help dealers to cushion repair costs and increase customer satisfaction at the same time - because protection against financial uncertainty is also becoming increasingly important for customers in times of inflation and massive price increases."
