When Will the Chip Shortage End? A Chip Shortage Update
Since 2020 all industries that use microchips have been impacted by a chip shortage. Between the Covid-19 pandemic and a multitude of other issues, demand for chips has far surpassed the supply, making it impossible for companies to fulfill all their possible sales. The car shortage has been particularly difficult to navigate. When will the car shortage end? The good news is that the worst is behind us. Take a look at Outsell’s chip shortage update to find out which cars are not affected by the chip shortage, and some ideas on when the car shortage will end.
When Will the Car Shortage End?
As of spring, 2023, Cars.com reports that new vehicle deliveries were up by 31 percent in November, 2022 compared to six months earlier, and up 41 percent from a year prior. They also report that cars are staying on dealership lots longer—from 39 days in November, 2021 to 44 days a year later. That said, new car prices have continued to rise, but should start dropping by the end of 2023. So, the end is in sight.
Cars Not Affected by Chip Shortage
Some of the car shortages are dependent on regional factors. For example, trucks are bigger sellers in landlocked states, so trucks might be more plentiful in coastal areas. That said, over the past years there have been seven makes and models that have been particularly plentiful:
- Hyundai Sonata
- Jeep Compass
- Nissan Titan
- Nissan Altima
- RAM 1500 Classic
- Nissan Sentra
- Volvo XC60
- Ford Expedition
How a Personalized Engagement Platform Can Help
Outsell can help you keep your automotive customer base intact as we weather the end of the car shortages. Our personalized engagement platforms work to keep your business rolling through times like these. Our decades of automotive industry experience gives us a special understanding of your business. We design our platforms for real people so that you can spend your time working directly with your customers with our personalized custom platforms. Want to learn more about how we work? Take a look at our success stories, then get in touch with us. We want to help you write a success story for your dealership or auto group!