Seniors Slam Car Company Efforts to Escalate a Repair Parts Monopoly That Harms Older Americans

WASHINGTON, Aug. 24 /PRNewswire-USNewswire/ -- Today, RetireSafe President Thair Phillips, representing 400,000 older Americans, slammed the car companies' latest effort to enhance their monopoly over repair parts and car repairs. "There is a certain irony that after a year-long parade of car company recalls, a number of car companies are attacking aftermarket repair parts in an effort to push their own, usually much more expensive repair parts," Phillips said.  "In the toughest economy since the Great Depression, seniors and all American consumers count on having the money-saving choice of high-quality aftermarket parts to repair their vehicles," he stressed. Phillips called recent statements by Hyundai and Honda pushing Hyundai Genuine Parts and Honda Genuine Parts, "shameless efforts to strangle vital competition that we absolutely need to have more of in the automotive marketplace."

He noted that "after billions of dollars in taxpayer-funded bailouts and 'Cash-for-Clunkers' sales promotions that we paid for to push new car sales for them, it's even more insulting to have car companies bash far less expensive, high-quality aftermarket parts which are certified to be safe and more often than not, made by the very same parts makers who make the original equipment parts." Phillips continued, "These same companies even attack perfectly good recycled parts – parts from vehicles they originally sold."

"Consumers pay a huge price for these car company repair parts monopolies, and Congress should act to protect the older Americans held hostage by these automotive shakedowns," he stated. "RetireSafe has long supported legislation that would do just that in both the U.S. House and Senate," Phillips said. He urged Congress to immediately "pass H.R. 3059 and S. 1368, the Access to Repair Parts Act."  

"It's time for Congress and the White House to stand up for seniors by putting a stop to car company monopolies that destroy competition, harm consumers, and eliminate free choice in the marketplace," Phillips concluded.

SOURCE RetireSafe