If you have a scrap car in your garage or your driveway, this Covid-19 pandemic time is the right time to junk that car for cash. The price of scrap cars and its parts has gone up considerably due to many factors, which makes this an opportune time to get maximum cash for your scrap car.
There are many reasons why there is a huge demand for scrap car parts.
Economic downturn due to pandemic – There is a lot of uncertainty in the economic scenario of the country and the pandemic has severely affected many industries. Automobile industry is one of the worst hit sectors, with sales of automobiles going downhill drastically. People are not buying new vehicles as they are uncertain of their future. Those who were planning to purchase a vehicle have postponed their purchase.
Factories reduced their output - Large vehicle manufacturers have reduced their output and many factories have been shut down. Industries that make car parts have reduced production because of lack of demand. Hence, there is increased demand for scrap car parts that are cheaper than new car parts.
Less usage of cars and hence less availability of junk cars – During the pandemic, many were working from home, eliminating the use of vehicles for their travel. Many cities were under complete or partial closure, and people who were infected with the virus were quarantined. So, there was less driving than usual, which resulted in lesser number of accidents and therefore, lesser number of scrap cars. The supply of scrap cars has reduced and scrap yards are finding it difficult to get enough number of junk cars to run their businesses.
Increased tariff on aluminium import – Governments are increasing tariffs on imported aluminium and hence car parts are also getting costly. Purchasing new car parts is not feasible for many customers, and they are seeking cheaper options. This has resulted in increased demand for scrap car parts that are available at cheap rates. Therefore, there is an increase in demand for scrap cars and their parts.
Countries around the world are trying to come back to normalcy after the pandemic started to wane. The economy is getting back on track and industries are again opening up. There is a possibility of new car parts coming to the market, which would eventually pull down the prices of scrap car metal. We are not sure what the immediate future has in store for us. Therefore, now is the time to find a professional scrap car removal company, remove the scrap car from your garage and get instant cash for it.
Jan 06,2022 / BY ADMIN