The global chip shortage is now causing nearly half of car shoppers to exit the market or postpone a new vehicle purchase for the next several months according to new consumer research from Kelley Blue Book. The August 2021 survey looked into car shoppers’ current perspectives and intentions given the state of an automotive marketplace plagued by inventory shortages and record-high vehicle prices.
Results of the survey indicate that 90 percent of shoppers are aware of the new-vehicle inventory shortage problems at dealerships. More than half of shoppers are aware of the cause of the shortage, and 71 percent are familiar with the effects of the shortage on the automotive market.
“The latest Kelley Blue Book research indicates that most consumers anticipate negative impacts on the automotive market due to the chip shortage, from increased prices to inventory shortages and longer delivery times,” said Vanessa Ton, senior industry intelligence manager