New style car parts guard braking component (6,8)

I believe the answer is:

master cylinder

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'braking component' is the definition.
I can't tell whether this defines the answer.

'new style car parts guard' is the wordplay.
'new' indicates anagramming the letters.
'parts' is an insertion indicator (in the sense of cuts or separates).
'guard' becomes 'minder' (a minder is a bodyguard).
'style'+'car'='stylecar'
'stylecar' anagrammed gives 'astercyl'.
'astercyl' inserted inside 'minder' is 'MASTER CYLINDER'.

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I've seen this clue in The Times and The Sunday Times.

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