Modern day vehicles are designed around technology. Practically all of a car’s systems, such as climate control, stereo, and navigation, are controlled by microchips. Some cars have as many as 3,000 microchips, with the average being around 1,300.
The microchip shortage, which began when the COVID-19 pandemic hit, is still causing delays in manufacturing. Sam Fiorani, vice president of global vehicle forecasting at AutoForecast Solutions, told reporters that he believes the industry will see 2-3 million units cut from production in 2023. This shortage will continue to affect the new car market negatively for those desiring to purchase new. Selling prices will remain strong for most cars, although it is substantially better than a couple years ago.
Many consumers are frustrated after ordering new cars that didn’t have all the required microchips installed. They have been waiting over several months to get their new cars fixed. This is due to some manufacturers allowing the sale of new cars without microchips installed for items such as heated seats, park assist, and other unnecessary items. If you are buying a new car off a dealer’s lot, or ordering one, be sure to ask if everything is operable on the car and if all necessary microchips are installed. If you settle for a car that is missing some microchips, be sure the sales contract states such and the agreed upon time they will be installed. Need help with your next automobile purchase? Let us help you make it a great one.
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