By law, manufacturers are obligated to provide replacement parts 10 years after the model has been discontinued. But there is a catch - corporate lawyers write the laws so they made sure that there is no provision as far as what chunks the part(s) must be available in so a $1 special washer may be available… as a part of the engine assembly. In any case, after ten years, you are on your own. Unless it’s a Toyota - there are so many of them all over the world that parts for 20-30 yo vehicles are readily available from Toyota as well as numerous aftermarket sources.
No, that is not correct. It is not a law. An agreement between suppliers and manufacturers at best.
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