Global Shortage of Microchips Could Last Into 2023

For some time now, it’s been widely reported that dealers’ lots have been steadily emptying due to the ongoing shortage of microchips. Consumers are being told that the vehicle they want is out of stock, and many are having to wait months to get their hands on the model they want. Vehicles are being delivered incomplete to dealerships as they await missing parts. Meanwhile, prices on the used car market are rising due to the lack of new vehicles.

These are some of the realities caused by the chip shortage. When the first effects of the crisis (a shortage of semiconductors for new vehicle manufacturing) were felt, experts were talking about a situation that could last until early 2022.

Now, some major auto manufacturers are talking about 2023.

The Munich Motor Show, on this week, was the occasion for some executives to issue that warning, according to Automotive News.

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