Shopping for a new vehicle these days can be a bit daunting with news of a chip shortage that’s slowed new vehicle production. What is the chip shortage? What does it mean for new car shoppers in the Bloomington area? The chip shortage is a complicated situation in which Covid-19, supply chain disruptions, and huge market demand for products with semiconductor chips have merged to cause a shortage. Since semiconductor chips are used in just about every electronic product, from cars to washing machines to phones and beyond, the chip shortage has affected just about every corner of the marker. Learn more about what the chip shortage means for cars with Suburban Chevrolet.
The chip shortage extends far beyond Minnetonka. It’s a global issue that’s affecting many manufacturing realms. During the Covid-19 lockdown sales of electronic devices and home appliances that use chips skyrocketed, while factories closed, creating a chip deficit. Factories are still trying to catch up from that time.
Your Hopkins vehicle contains hundreds of semiconductor chips that impact every part of your vehicle. The lack of chips has made it impossible to make enough new vehicles to keep up with customer demand. With high demand and low supply, new car prices are gone up. While you can still buy a new car if you need one, it’s a really good time to opt to trade in your old car, since dealerships like Suburban Chevrolet are looking to increase their inventories.
The news is promising on this front. Economic experts pointed to signs that factories are catching up in late summer, 2022. Demand is still high, so it’ll still take some time for production to get up to speed. That’s predicted to happen by the end of 2023 with shortages easing along the way. You can still purchase a new car between now and then, but it’s a great time to choose a certified pre-owned or used car instead.
We want to make it as easy as possible for you to buy a car at Suburban Chevrolet. That’s why we offer our car-buying tips, with up-to-date information about the financial end of the buying process. Stay in the loop with us!
Bloomington drivers who need a truck that works as hard as they do often turn to the Chevy Silverado HD line. This heavy-duty Chevy pickup range, which includes the Silverado 2500 HD and the Silverado 3500 HD, offers high-end performance and capability perfect for tackling the trails or traversing the Minnetonka jobsite. For many, the…
The Chevrolet Silverado 2500 is an HD truck boasting the power and performance you want for tough jobs and ambitious road trips outside Bloomington. If you are ready to switch from a light-duty pickup to an HD option, learn about the new Chevrolet Silverado 2500 tow rating today! Our guide includes engine specifications and available…
Are you wondering how much a Silverado 1500 can tow? The 2026 Chevy Silverado 1500 towing capacity is impressive, allowing you to haul more recreational equipment, trailers, and other items in Bloomington and the surrounding areas. Learn about the Silverado tow rating with Suburban Chevrolet today, and then contact us to set up a test drive….
