8 months ago the dealership reached out to my dad and said they wanted to buy his truck back from him. When they told him he could get the brand new 2022 Ford Superduty for only $5,000 more than what they bought his 2018 Superduty back for it seemed like a no brainer! However 8 months later his new truck does not even have a serial number yet… Thankfully he has enough company trucks that he always has a vehicle, but most people wouldn’t be so lucky.

If you know anyone who has been thinking about buying a new vehicle the past year you have probably heard about the vehicle shortage. But why is there a shortage? And when will it end? The short answer is that no one really knows when it will end. How can one tiny microchip cause a worldwide shortage of vehicles?

An article on motortrend.com discusses the reason for the chip shortage and some potential solutions.

  • The shortage is predicted to last into 2023, however it can be partially combated if manufacturers come up with a way to use less chips, or use different ones
  • The global Auto Industry lost 210 billion dollars in sales in 2021 due to the shortage
  • In 2020 when manufacturers were forced to shut down with COVID, the supply chain of microchips got rerouted to electronics to handle the demand for more video games, etc. When the world “opened” back up, chip manufacturers were not prepared
  • There was a fire at a microchip plant in Japan. Ford mainly relied on that plant for its supply
  • Used car prices jumped 42% due to demand. Which is why new vehicles are now more affordable than used vehicles in many cases
  • https://www.motortrend.com/news/automotive-car-industry-semiconductor-chip-shortage-reasons-solution/

I was hoping that the below article would give me concrete insight on whether we should buy a vehicle now or wait. The article did tell me to wait, however it does not give a specific timeline on when it will be a buyers market again. Sounds like the real estate market in Victoria hey?

https://www.cars.com/articles/inventory-shortage-update-should-you-wait-to-buy-a-car-445723/

My husband and I currently have decided on the Toyota Rav4! The below video is long but gives a great overview on why the Rav4 is such an amazing vehicle!!