2021 was an unusual year for the automotive industry. While customer demand for new cars rebounded from the economic uncertainty of 2020, automakers found themselves unable to meet that demand because of semiconductor chip shortages and supply chain problems. So what should car shoppers expect for 2022? Much of the same, unfortunately.
“Competition for new vehicles will be fierce as inventory shortages persist in 2022,” said Ivan Drury, Edmunds’ senior manager of insights for Edmunds.
Shoppers today must contend with a limited selection, dealership markups, little to no discounts, and a greater sense of urgency to move quickly on a deal. With this in mind, here are five ways that car buying has changed, along with a few tips on how to manage it.
ONGOING VEHICLE SHORTAGE MEANS HIGHER PRICES
Vehicles that make their way onto the lot are more likely to be in more expensive trims and either marked