![]() ![]() Even automakers like Toyota, who weathered the semiconductor storm fairly well, are closing their plants. This chip shortage sequel is causing more automakers to back down, severely limiting how much they produce. In short, there are fewer conductors being built in the middle of this shortage, and production won’t turn around until people are vaccinated. With people sick, there are fewer in-person jobs and more closures occurring across the country. But they’re also experiencing a massive spike in Covid cases, hit hard by the even more infectious Delta variant. Malaysia is a key player in the production and distribution of these chips. ![]() But now, the two problems are overlapping. Likewise, the purchasing of smartphones and electronics made semiconductors scarce. Then, out of nowhere, new car purchases skyrocketed, and manufacturers couldn’t keep up with demand. Well, before, the two were separate problems.Ĭovid hit and manufacturers poorly predicted that people wouldn’t be buying new cars, so they slowed production. And surely you’ve heard of that pandemic we’re still dealing with. Most people in the market for a car have heard of the infamous chip shortage, which has affected every automaker in some capacity. Brand New Toyotas Parked at Dealership Jim Watson/AFP via Getty Images A devastating crossover between Covid-19 and chip shortages CBS reports that, as of now, new cars may not get any cheaper until 2023. But if you had hopes that the market would stabilize in 2022, you might be mistaken. And with new car prices sky-high, most people may not be able to afford one. Now might be one of the worst times in history to buy a new car. ![]()
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