Sam Fiorani, vice-president of global vehicle forecasting at AutoForecast Solutions, recently told Automotive News Canada that it will be “well into next year, if not 2024,” before inventory levels return to a regular level. Semiconductor chips are the main culprit behind the crunch, but Fiorani said there’s also a shortage of other parts, too, including plastic and foam components that are made from petroleum, leaving automakers and car dealerships with little immediate reprieve.
Of course this will continue to affect availability of used cars and prices.
Of course this will continue to affect availability of used cars and prices.