Shortages of microchips and other car parts continue to hit new car supplies all over the globe. Latest industry figures showing that almost 100,000 cars are cut from production from factory schedules worldwide.
Recent reports from Auto Forecast Solutions, an industry tool reflecting the status of the global automotive industry supply chain, say that about 1.25 million vehicles have not been built in factories around the world since the start of 2022.
Apart from supply shortages, the global semiconductor chip shortage has also resulted in increased prices, spec changes for some popular car models, and tumbling sales for many auto makers.
To date, 618,000 vehicles have been cut from European automotive plants, 308,700 from North America, 70,900 from China, 206,300 from rest of Asia and about 50,000 from South American and Middle East/Africa.
According to Australian Automotive Dealers Association Chief Executive James Voortman, wait times for popular models have blown out to 12 months and longer.
This means that Australians can still expect new car shortages and long wait times in the foreseeable future.