The Motor & Equipment Manufacturers Assn. (MEMA), Research Triangle Park, N.C., reports that vehicle parts costs declined during the first quarter of 1997 for automakers for the fourth consecutive quarter. Accompanying the decline experienced by carmakers was a general decline in new car prices and the cost of gasoline.
While those building and buying new autos experienced some price declines, the prices of used autos, car financing, and personal car and truck maintenance and repairs increased. MEMA represents some 700 U.S. manufacturers of motor vehicle components, tools and equipment, auto chemicals, and related products used in the production, repair, and maintenance of transportation vehicles.