Since the chip shortage started, car committed shoppers are asking: “Hey, do I buy a new or pre-owned car now?” “Do you have any pre-owned models similar to the 2022 BMW M3, but in stock now?”
So, the dilemma is real, and we’re no strangers to fielding these questions.
Global Chip Shortage Impacts New Car Shoppers
With the current global chip shortage, car chipsets (the brains which control the operations of every new car nowadays) are in low supply worldwide. As a result, this is creating a real dilemma for many car shoppers and dealerships worldwide.
So, we can sense you’re revving from anxiety. And, it’s not your fault!
What Caused the Chip Shortage for New Cars?
The global chip shortage dates back to March 2020, when the COVID-19 Pandemic began to emerge at scale. But, what started it?
Indeed, auto manufacturers were navigating a tough business climate with so much uncertainty. (Like the rest of the world, let’s be real!). According to ErieInsurance.com, “when mass shutdowns and quarantines began in March 2020, auto manufacturers anticipated a huge drop in new car demand.”
So, what did they do? Expectedly, many auto manufacturers reduced sales forecasts and cancelled part orders for components like microchips. The result? When demand picked back up again, microchips were already being diverted to other markets. Outside of the car industry.
In a nutshell, chip suppliers began to focus their efforts toward other industries and areas. And, now the auto industry must work twice as hard to secure these chips again to meet demand.
Unfortunately, for new car shoppers, it’s not over just yet! According to an article by ConsumerReports.com, “It’s looking increasingly likely that vehicle supplies won’t return to something we might consider normal until the end of 2022 at the earliest, and possibly well into 2023.”
Do I Just Purchase a Pre-Owned Car Now?
Well, that begs the question. Are you willing to wait for that new Ford Bronco or BMW M3, or for that submerged cargo ship to arrive with over 4,000 cars that caught fire and sank to the bottom of the Atlantic Ocean (fortunately, all crew were safe and rescued)? Hint, that ship isn’t coming back.
So, if you can’t wait, can you settle for something similar or pre-owned? If so, you guessed it! A used car is the more certain victory.
Choosing a Pre-Owned Car Dealer You Can Trust
Ultimately, finding a pre-owned car isn’t the easiest thing either. Dealerships come in all shapes and sizes as well. For instance, with so many used car dealers, are there dealers you can trust? Which ones are credible?
Well, we don’t normally toot our own horns. After all, we would have too many to toot with all the inventory we offer. No pun intended!
Here at Premiere Motorsports we feel a true sense of pride and customer joy around our dynamic inventory of pre-owned cars. It’s what keeps many customers reaching out to us and wanting to drive all types of road exquisites every year (for the last 10 years). From BMW, Lexus, Mercedes, Porsche, Range Rover, to Toyota models (and many others), we’re proud to be the home of pre-owned, low-priced luxury in the Chicagoland area. And, no, that’s not just another tagline.
Actually, we stand behind our words. For instance, last month alone in March we had one of our best months for pre-owned cars. The result? We put smiles on 38% more customers than March 2019, a pre-pandemic year.
Still on the Fence About What’s the Better Car Choice?
Obviously, making important decisions like buying a new or pre-owned car can be challenging. But, listing out pros and cons isn’t easy either. Check out CarAndDriver.com’s article about advantages and disadvantages of buying a new and pre-owned car to help with this process.
Still can’t decide, why not come in for a test drive? Unsurprinsgly, sometimes hopping into that Vanderhall Blackjack or pre-owned Jeep is what everyone needs. Let’s face it, online research can get a bit intense after a while.
Ready for a test drive? Then, get in touch with us today!