Without semiconductor chips, there are no new cars, it’s that simple. The shortage of these microchips is generating, in turn, an increase in waiting times for the delivery of a new car, which is pushing up the demand for pre-owned models and flexible renting, as indicated by the vehicle sales portal. Cars.com, so its average price has risen 12%, to 29,772 euros.

Thus, the website has explained that the average prices of new cars have also risen throughout this year due to the fact that the basic versions of many models have been affected by the change in the measurement of emissions, which caused an increase in the registration tax.

“The last straw in the market for new cars has been the increase in the price of raw materials and the lack of microchips . The global crisis of shortage of semiconductors has hit the industry around the world. In Spain, the main factories are they have been forced to reduce shifts or even stop their assembly lines due to lack of supplies “, indicated Coches.com.

Longer waiting periods
For this reason, car manufacturers have been forced to increase the waiting periods of many of their products, which has made customers prefer to opt for pre-owned models or services such as flexible renting. Automakers are suffering from this semiconductor chip shortage in their bottom line.

“Spain had always been a market very oriented to the new vehicle and people were used to waiting for their car. It seems that this is beginning to change and we become a market more similar to the North American, where waiting for a car is something unusual” , has assured the general director of Coches.com, Gerardo Cabañas, in statements to EuropaPress .

In this sense, second-hand cars take around 35 days to sell from the moment they are advertised. For pre-owned or stocks, this term is shortened by almost 30%, up to 25 days.

“The shortage of new vehicles causes the demand for pre-owned cars to skyrocket, selling on average in less than 25 days,” Cabañas stressed. However, this makes drivers accept prices higher than usual for this type of vehicle, with an average of 29,772 euros, 12% more than a year ago.

“The situation of the new vehicle market may anticipate the arrival of services such as renting or subscription cars, which are already having a great reception as we saw in a previous study carried out on Autos.com. In this way, drivers can cover their mobility needs more quickly, without waiting and without permanence “, added the manager.

By Leon Cooper

Leon Cooper was born and raised in Vancouver. As a Reporter for TheCantonIndependentSentinel, Leon has contributed to several online publications including Dream House Publications and Granville Magazine. In regards to academics, Leon has got a Post Graduation Degree in Department Of Archaeology from The University Of British Columbia. As a Reporter for TheCantonIndependentSentinel Leon Covers International Topics.

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