Lovestruck Car Shoppers Willing to Travel Farther Amid Inventory Shortage | Edmunds

• New vehicle inventory is down by nearly 20% compared to the same time last year, a problem made worse lately by a global semiconductor shortage
• Dwindling new car supply means shoppers have to travel farther to buy — and they’re up for it
• According to Edmunds data, car shoppers are now willing to travel 65 miles on average, a 38% increase year over year

Since we’re all stuck inside more often in these pandemic times, it’s not surprising that consumer electronics sales have gone through the roof. But this spiking demand has had a knock-on effect on car production, as there is now a shortage of semiconductors to power the chipsets that make modern automobiles tick. That’s on top of existing new-car inventory limitations due to factory shutdowns and other pandemic-related challenges.

So what’s a lovestruck car shopper to do for Valentine’s Day 2021?

Well, it might be a lot harder to find the car you love locally, which explains why car shoppers are now willing to travel 38% farther to buy than they were a year ago, according to a new Edmunds analysis.

“New car inventory was already tight due to coronavirus-related factory shutdowns from last year, and the current global chipset shortage has exacerbated the situation,” said Jessica Caldwell, Edmunds’ executive director of insights. “But car shoppers aren’t being dissuaded by the lack of inventory. They’re demonstrating that they’re ready to literally go the distance to get their hearts’ desire, even in the midst of a pandemic.”

Wondering which cars people are going the most extra miles for? Check out Edmunds’ list of the Top 25 Most Desired Vehicles, based on the average distance between the person who submitted a lead and the vehicle itself.

Source