Microchip shortage drives leasing of pre-owned cars

Microchip shortage drives leasing of pre-owned cars

MEXICO – The automotive industry is experiencing one of the biggest crises in its history due to the shortage of microchips that is plaguing the world. As a result, automakers are unable to meet the growing demand for new models.

In Mexico, this situation has caused some models to be out of stock and there is still no date when vehicle production can be resumed.

Likewise, a new outlook opened up for pre-owned cars, which in schemes such as vehicle leasing have had a historic growth compared to previous years.

GSA Leasing, a vehicle leasing company, reported a 7% growth in June of this year so far in the sale of pre-owned cars, when in 2020 they did not even reach 1%.

"There are customers who are very loyal to the brands, who decide to lease a pre-owned car rather than change brands, taking advantage of the fact that they are certified by the agency," says Francisco Lecuona Patiño, general manager of GSA Leasing.

This trend is expected to continue until the microchip supply is resolved, so pre-owned leasing will continue to rise this year.

Source: Portal Automotriz