How long could you be waiting for a new car?
Are you in the market for a new car this year? One important thing to be aware of if you are looking to buy a new car is that you might be waiting a lot longer than normal before your vehicle is available. The main reason for this is the global chip shortage and production problems as a result of the pandemic, which is affecting manufacturing all over the globe.
Lengthy Waiting Times
So, how long might you be waiting for a new car? In normal times, people usually wait around 4-8 weeks for a new car to be delivered. In the current situation, some dealers are unable to give a timeframe and will simply say sometime in 2022. WhatCar? Carried out research that found that some motorists could be waiting for a year for certain models. Therefore, this is something that you need to keep in mind particularly if you need the vehicle sooner rather than later.
Cars Being Down Specced
Carmakers are doing all that they can to speed up the process with some even down speccing vehicles to make them available faster, such as sacrificing safety or convenience features. This can allow motorists to make savings, but keep in mind that you will not be getting the same quality vehicle and you need to decide whether or not down specced is worthwhile.
The Chip Shortage
The chip shortage is a result of an enormous drop in car sales and a rise in demand for computers, tablets and other devices that use these chips. As a result of this, production was diverted away from the automotive industry and now there is a shortage that is slowing production. New cars require up to 14,000 of these microchips, which can be used to manage all kinds of systems including safety, systems, the windows and infotainment screens.
Knock-On Effects
There is also a knock-on effect of the chip shortage which is the rise in the cost of used cars - something that is rarely seen. Due to the lengthy delays for a new car, many people are turning to the used car market which has driven up prices. This means that you might be surprised if you look in the used car market and no longer be able to afford the same level of vehicle. A good alternative to this is to take out a lease deal, which would allow you to drive a new car without making a full commitment and often works out as cheaper than a finance deal.
It is a difficult time in the automotive industry with motorists having to wait up to a year for their new car to become available and the cost of used cars on the rise. Hopefully, the situation will improve over the course of 2022 so that motorists will not be waiting as long for their new car to become available.
