As awareness of the microchip shortage grows, new car buyers are willing to wait up to a year for their next car, but want dealers to keep them updated on delivery times and delays, according to our latest industry research from What Car?.
What Car? surveyed 1,245 in-market buyers set to purchase a new car, and found that 82% of buyers are aware that the microchip shortage has pushed waiting times for new models to beyond a year in some cases. Of the new car buyers surveyed, 20% are willing to wait longer than six months for their next car, while 10% are willing to wait 9-12 months for their new car.
The research found that it is important for buyers that dealers keep customers updated on their order, and 60% would accept their delivery time being extended if the seller was upfront about the possibility of it happening. When asked how often buyers would like updates on their order, 43% said they would prefer monthly updates, while 40% preferred weekly updates.
For the buyers whose expectations on waiting times could not be met, 46% said to What Car? they would switch to a vehicle from another maker with better availability. Another 39% would consider buying from stock or the used market, and 15% would consider alternative vehicles from the same maker.
