The global supply chain has been hit hard by COVID-19-related complications. Factories have shut their doors causing a backlog in production and an increase in product demand, largely due to a significant shortage of the most basic building block of technology: semiconductors.
This includes cars, which have become increasingly dependent on electronics over the past several decades. And it’s proving to be perhaps the most devastating supply chain disruption the auto industry has seen in decades – maybe ever, if you ask some executives.
The result is new cars with inflated prices and customers clawing at the limited available inventory. Even the used market is ballooning in price. So if you’re looking for the best deal on a new ride, now might not be the best time to buy, especially if you don’t want to be upside down on your loan in a few months.
Read the article at The Drive.
