Many car audio companies are now raising prices, due to the higher cost of parts and freight.
Kenwood and JVC will implement a price increase April 1, said several industry members. Some said the increase is 2-5 percent on select models. JVCKenwood had no comment on the matter.
Boss Audio raised its prices in November and then again in January, each time by about 5 percent on all brands. This followed a long stretch of keeping price steady. The company noted freight costs alone have quadrupled.
Epsilon held its third or fourth price increase in 120 days, increasing prices by 5 to 7 percent across all brands (including Soundstream and Power Acoustik). The two prior increases were five percent most recently and three percent before that. “We’re not making any money on the raises. We’re just passing it through,” said Epsilon’s Ronnie Brashear.
NAV-TV, which hadn’t raised prices in the last three years, instituted a recent price increase and Arc Audio said it raised prices by 5 percent across the board last month.
This is not a comprehensive list. Also, many other suppliers say they are considering raising prices this year.
Of course, there are exceptions. AudioControl said it hasn’t raised prices since 2019.
Again, the cost of producing goods has skyrocketed including the cost of a shipping container, which went from $3,500 before the pandemic to $10,000 or more at present.
Additionally, suppliers continue to report increases in production times with some speaker and amplifier companies saying the time from placing an order with the factory to delivery is now at a year.
One head unit supplier said, its production time went from 60 days to 120 days for most products before hitting the water. After a 2 week journey to reach US shores, there’s a 3 to 5 week delay at the port.
Another head unit supplier said build time is now 8 months, up from 3 months before shipping to the US.
Even more reason to make it in the USA !!
As a UK distributor for many brands we have already seen these price hikes last year. I am sure we expect more to come on new models. Adding to this the on going charges for shipping domestically and internationally. We also are manufacturers of brands Road Angel, Snooper, DB Audio, In Phase and Juice all which as the manufacturer have seen huge cost increases due to raw materials and shipping. So it comes as no surprise. Best of luck to us all.
Gonna be a weird 2021