Semiconductor shortage: Does buying a new car have to wait till 2023?

Indian car buyers have been facing frustration and long waiting periods, as delivery delays for their new vehicles are running into months and sometimes up to a year. As per reports, India currently is facing a backlog of over 7 lakh new cars that need to be delivered to buyers. The sudden surge in demand post-covid and shortage of semiconductors are being blamed for these delays. However, it has resulted in a financial hit to both customers and dealers, and is also spoiling India’s retail therapy and here are the reasons why…