FAQ?
Will the chip shortage have a lesser impact on 2022?
Towards the end of December, it appeared as though the chip shortage was going to have a lesser impact on 2022 than it did the year before.
Is there a shortage of semiconductors in cars?
A shortage of the types of semiconductors used in cars is still limiting production of new vehicles, which means fewer used vehicles are entering the market.
What is the ripple effect of the shortage of new cars?
One ripple effect of the shortage of new cars caused by stalled semiconductor production is that people who were looking to buy new cars ended up buying used cars instead.
How will the used car market change in 2023?
“In 2023, we’re looking at 2 million fewer vehicles coming in from the lease market back to the used car market than in 2020,” Hoenig said, “so obviously, that’s a huge problem.”
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