From last summer, when the market began to find its way, after the continuous lockdowns and with the sales of new cars constantly rising, it began to appear that there would be a problem with their deliveries. Then the wait was 2 or 3 months and only in some companies, which were in high demand, it was more.
Today things have changed and the wait of 6 maybe more months is certain. The immediate deliveries with the 15 days of waiting that were valid a few years ago have passed and now it will take a long time for the companies to be able to return to the same pace. Several dealerships already place restrictions on orders and the possibility of additional items in the car, while others even point out that even some colors are not available. Sunroof, electrically adjustable steering wheel and towbar are prohibited on orders, as they will further increase the wait.
Another problem that prospective customers face is the price of their car. The continuous increases in relation to the delivery delay creates a big gap in the final price of the model that no one knows if the next 6 months will be the same.
The pandemic has created a huge problem. In Asia, many countries have a problem with the spread of the virus. In Malaysia alone, according to the World Health Organization, more than 2 million cases and more than 23.000 deaths were recorded by early September. Other Asian countries, where semiconductors are made, face the same problem. Factories closing due to the pandemic increase semiconductor delivery times and exacerbate the problem. These factories are now operating at 100%, they have re-invested, but it is difficult to meet the increased demand, with the pandemic quarantining thousands of workers.
Therefore, if these small parts do not reach the car industry, new cars will not be able to be produced. The long wait forces many consumers to cancel their orders or not think about buying a new car until the market is normalized.
The lack of semiconductors is also reflected in the decline in sales throughout Europe and in Cyprus. Analysts at consulting firm AlixPartners predict a global production cut of $ 7,7 million this year at a cost of $ 210 billion. However, there are many who report that the situation will begin to normalize in the first months of 2023.
The general situation also affects leasing companies. They can not renew their fleet, so they extend their contracts with their customers for several months, maybe years later. These effects also affect the prices of used cars. They have also risen, as demand is high and supply is quite limited.