GM Daewoo replacement parts prices have been reduced by up to 63% with immediate effect.

In a statement the UK importer said older model parts and service parts prices are being cut by up to 63% in order to reduce running and maintenance costs for customers who are outside their three-year free service entitlement.

Daewoo is also reducing the prices of accident related parts to promote the use of genuine panels and components in a market where pirate components are rife. The company is concerned that the use of non-genuine parts can increase the risk of injury in accidents and can contribute to the early write-off of older cars.

Aftersales director John Sanderson, said: “We are conscious of the impact that parts pricing can have on customers who have not been paying for their services for three years and have carried out a top to bottom review of our parts prices. Reductions have largely been enabled by movements in exchange rates and some careful bulk buying of fast moving components. Retailer margins remain unchanged.”

The price changes affect over 700 parts.