{"id":12947,"date":"2021-10-27T14:13:19","date_gmt":"2021-10-27T14:13:19","guid":{"rendered":"https:\/\/c360.oempre.ext.coxautostaging.com\/blog\/four-things-to-know-about-car-shoppers-and-the-ongoing-microchip-shortage\/"},"modified":"2026-11-09T10:13:18","modified_gmt":"2026-11-09T10:13:18","slug":"car-shopping-trends-during-the-microchip-shortage","status":"publish","type":"resource","link":"https:\/\/www.coxautoinc.com\/advertising\/resources\/car-shopping-trends-during-the-microchip-shortage\/","title":{"rendered":"Four Things to Know about Car Shoppers and the Ongoing Microchip Shortage"},"content":{"rendered":"\n<p class=\"yoast-reading-time__wrapper\"><span class=\"yoast-reading-time__icon\"><\/span><span class=\"yoast-reading-time__descriptive-text\">Estimated reading time:  <\/span><span class=\"yoast-reading-time__reading-time\">3<\/span><span class=\"yoast-reading-time__time-unit\"> minutes<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Cox\u202fAutomotive\u202fconducted research<sup>1<\/sup>\u202fin August\u202fto understand how the chip shortage is impacting car buyer\u202fbehavior; we compared&nbsp;our findings&nbsp;to research&nbsp;completed&nbsp;in April,&nbsp;<a href=\"https:\/\/www.coxautoinc.com\/advertising\/resources\/channeling-marketing-inventory-disruption\/\" target=\"_blank\" rel=\"noreferrer noopener\">as chip shortage impacts were\u202ffirst realized<\/a>.\u202fAs you\u2019re thinking about how 2022 strategy and planning, here\u2019s what to know about how car buyers perceive the chip shortage:&nbsp;&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>People are still willing to pay above MSRP.\u202f<\/strong>&nbsp;<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Only slightly fewer shoppers now than in April are willing to pay above MSRP to get their vehicle of choice and would pay a 13% premium.\u202fIn April, our research found that 42% of in-market shoppers were willing to pay above MSRP,\u202fand in August,&nbsp;that number dropped down to 35%.\u202fDemand drives pricing today, not suggested retail prices.\u202f\u202f&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>More car buyers are delaying their vehicle purchases&nbsp;due to the chip shortage.<\/strong>&nbsp;<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">48% of in-market shoppers are likely to postpone, compared to 37% in April. Among those likely to\u202fpostpone\u202ftheir purchase, about half would delay their purchase by six months or less.\u202fMore of those who are not&nbsp;waiting&nbsp;are likely to switch brands, categories,&nbsp;or from a new to a used vehicle. It\u2019s safe to say these consumers want a car sooner than later and are willing to compromise on what they originally planned.&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Car buyers are willing to drive outside of their local area for a vehicle.<\/strong>&nbsp;<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Three-quarters of\u202fshoppers are willing to drive 50-200 miles for the right vehicle&nbsp;but\u202fless likely to&nbsp;travel\u202fmore than 200 miles away from home.&nbsp;As consumers are willing to travel more distance, marketing strategies should pivot. It\u2019s less about geography&nbsp;and more about&nbsp;<a href=\"https:\/\/www.coxautoinc.com\/advertising\/resources\/strategic-oem-digital-marketing-camp-360\/\" target=\"_blank\" rel=\"noreferrer noopener\">matching the right person to the right car&nbsp;at the right time<\/a>.&nbsp;&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Most car buyers still anticipate negative impacts\u202fas a result of\u202fthe chip shortage.<\/strong>\u202f&nbsp;<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">From increased prices to\u202finventory\u202fshortages and longer delivery times,\u202fmost consumers\u202frecognize the effects of the chip shortage on the car buying process\u202f\u2014\u202fand expect that the trends will continue.\u202f76% believe that all vehicle brands will be impacted, and 61% expect less favorable deals or&nbsp;incentives.&nbsp;We\u2019ve seen an increased number of consumers ordering direct from manufacturers.\u202f&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>You can bridge the gap from consideration to purchase.&nbsp;<\/strong>&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Now that\u202fwe understand&nbsp;the chip shortage\u2019s ongoing impacts on&nbsp;car buyer behavior, we can help shift your strategy to reach the right customers\u202fto drive quality traffic and revenue.&nbsp;Although some consumers&nbsp;delay&nbsp;purchases due to limited availability and increased prices, that won\u2019t last long.&nbsp;This is the time to evolve your marketing and messaging strategies to target shoppers most interested in your brand. So why should you advertise now? We know that CAMP 360 helps influence sales both in the near and long term. We know that 66% of sales transactions will happen&nbsp;3&nbsp;or more months after a shopper\u2019s first engagement with CAMP 360<sup>2<\/sup>. Using CAMP 360 to bridge inventory gaps in the present builds demand to fuel future sales.&nbsp;&nbsp;<\/p>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"wp-block-paragraph\">1. Cox Automotive\u202fResearch &amp; Market\u202fIntelligence\u202f\u202f\u2013\u202f\u202fAutomotive Chip Shortage Consumer Perspective Wave 2\u202f\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">2.\u00a0Cox Auto Buy Through Rate Study, Sales = January 2021 \u2013 May 2021\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cox\u202fAutomotive\u202fconducted research1\u202fin August\u202fto understand how the chip shortage is impacting car buyer\u202fbehavior; we compared&nbsp;our findings&nbsp;to research&nbsp;completed&nbsp;in April,&nbsp;as chip shortage impacts were\u202ffirst realized.\u202fAs you\u2019re thinking about how 2022 strategy and planning, here\u2019s what to know about how car buyers perceive the&hellip;<\/p>\n","protected":false},"author":2590,"featured_media":13066,"template":"","categories":[1],"tags":[],"resource-format":[],"topic":[],"funnel-phase":[],"audience":[],"persona":[],"product":[],"program-series":[],"eligible-for-automation":[],"lifecycle-of-automotive":[],"brand":[],"class_list":["post-12947","resource","type-resource","status-publish","has-post-thumbnail","hentry","category-uncategorized"],"acf":{"show_featured_image":true,"action_item_text":"","related_resources_manual":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Four Things to Know about Car Shoppers and the Ongoing Microchip Shortage - Advertising<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.coxautoinc.com\/advertising\/resources\/car-shopping-trends-during-the-microchip-shortage\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Four Things to Know about Car Shoppers and the Ongoing Microchip Shortage - Advertising\" \/>\n<meta property=\"og:description\" content=\"Cox\u202fAutomotive\u202fconducted research1\u202fin August\u202fto understand how the chip shortage is impacting car buyer\u202fbehavior; we compared&nbsp;our findings&nbsp;to research&nbsp;completed&nbsp;in April,&nbsp;as chip shortage impacts were\u202ffirst realized.\u202fAs you\u2019re thinking about how 2022 strategy and planning, here\u2019s what to know about how car buyers perceive the&hellip;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.coxautoinc.com\/advertising\/resources\/car-shopping-trends-during-the-microchip-shortage\/\" \/>\n<meta property=\"og:site_name\" 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