Used car prices are still on the rise due to a high demand and a shortage of cars on the market. As car manufacturing has slowly improved, it is clear to see that car sales won’t return to normal in the months to come. Drivers are paying more than average for used cars NI and the main question on our mind is ‘why do the prices just keep on rising?’
Although 2021 was a ground breaking year in car prices, it is likely that these prices will remain the same throughout the first months of 2022. The main driving factors behind this increase is the covid-19 pandemic and the semiconductor shortage. Many car dealers believe they will see improvements this summer, however we won’t see real changes until 2021.
As a result of the pandemic, many key commuters and key workers changed their routine of travelling by public transport and decided to purchase a car to travel to and from work. Now that the pandemic is easing and those who were working from home are now back in the office, there has been another surge in car sales and people are securing their alternative travel methods to public transport.
Although many car dealerships Belfast have benefited from these increased used car purchases, it has also led to a price increase as there aren’t enough cars on the market to keep up with the demand.
Car manufacturers worldwide have struggles throughout 2021 to keep up with the car demands as production was affected by the semiconductor chip shortage. Unfortunately, it looks as if this supply will not return to normal throughout 2022. Vehicles usually need between 1500 and 3000 to function correctly.
These chips are essential for the production of cars as they are used in everything, including the power of steering, enabling your brake sensors and powering your entertainment systems. As a result many companies have suspended their production, increasing the waiting times and prices of new and used vehicles.
Although there will be a correction in the unprecedented price increases of used cars across the UK, it won’t happen overnight. This is a long-term trend that will take a number of years to return to the way it was before the pandemic. Unfortunately many people have been struggling to find used cars on the market due to these rising prices, however the team at CarLover can help.
We have a range of used cars from popular brands within dealerships across Northern Ireland. These brands include Volkswagen, BMW, Audi, Tesla, and so much more. Whether you are a first time driver, you are interested in upgrading your current model to something environmentally friendly, or you need a family car, we have something to suit your needs.
For more information on the cars we have in stock, get in touch with a member of our team today. Alternatively you can visit our dealerships and view our cars in person. No matter where you are based there is a CarLover dealership near you.
You can also check out our other blogs such as: Five cars to buy during the used car shortage.
