The primary challenge impacting the availability of new cars stems from a global scarcity of semiconductors, commonly known as ‘chips.’ These tiny but vital components are found in a wide range of electronic devices, including washing machines, home computers, televisions, and automobiles.
To function optimally, each new car relies on approximately 1,500 of these chips, serving as the vehicle’s central processing unit. However, the surge in demand for electronic goods during the COVID-19 pandemic resulted in a shortage of semiconductors.
Although chip supply is gradually improving, most manufacturers are still grappling with significant order backlogs. Consequently, it is probable that extended waiting times for new cars will persist throughout 2023, as manufacturers diligently work through these accumulated orders.
