Will the Chip Shortage End in 2023?
A microchip shortage has caused new vehicle prices to soar, climbing near record highs. Though in during this chip shortage, other economic and production factors influenced the price hike as well. But a solution to the microchip crisis is expected to provide some relief.
But how much longer will we have to wait? More optimistic analysts predict the shortage to ease by the time we ring in the new year. But others believe issues may persist into the beginning of 2023.
As it turns out, vehicles do not require the most advanced microchips. Because inexpensive, less-powerful models will function just fine, the microchip industry is working to ramp up production, hoping to increase it by another 3% in 2023 (Electronic Engineering Journal).
More microchips mean more vehicles, and before long, more shoppers back on the lot!
People Also Searched
How Much Does a 30-Second TV Ad Cost?
Are We Still in a Seller’s Market for Car Buying in 2022?
How Dealerships Can Guide Buyers in Car Buying Process?
Seeking A Good Marketing Agency Near Me, Choose Motivated Marketing!
Here at Motivated Marketing, our team is always here to help! Located in Charleston, SC, we successfully run advertising campaigns for industries nationwide.
Whether you’re facing inventory shortages or a drop in sales, we’ll help your dealership pivot – and get back on track! Contact us today for more details!
Learn more about each of our main verticals here:
And check out the A-to-Z comprehensive marketing services we provide:
- Brand Development
- Digital Advertising
- Direct Mail
- Email Marketing
- Graphic Design
- Media Buying
- SEO
- Social Media
- Video Production
- Web Development
To consult a marketing specialist, contact us today! Feel free to shoot us a message or call 843-856-7322. We can’t wait to talk strategy and growth opportunities for your business, reach us today! Let’s chat, it’s FREE!
© MOTIVATED MARKETING - Privacy Policy | Sitemap