The price of new cars is close to all-time highs. Why is that?

Why have new cars gone up in price? If we analyze the figures, a sustained increase is confirmed for several months.

Last October the price of new cars rose by 2.4%, a circumstance that represents the fourth consecutive monthly increase and places the cost at the highest figure since 2017 according to data from the National Institute of Statistics that it has had access Europa Press .

The main cause of this increase is due to the technological equipment included in cars, increasingly sophisticated ... and expensive, to which is added that the price of raw materials and transport has also risen.

More expensive new cars

Buying a car is more expensive, but so is maintaining it. Specifically, this operation has risen 2.2% compared to October 2020. To this is added that the price of spare parts and accessories has also increased by the same percentage, the aforementioned 2.4%.

This increase occurs at a complex time for the automotive sector due to the crisis caused by semiconductors and which is causing significant delays in the deliveries of new cars once acquired by their future owners. The lack of stock means that some brands wait several months.

This lack of certain parts has caused the cessation of production by some brands, which have had to stop their manufacture, with the consequent economic damage.

In fact, as confirmed by the European Association of Automotive Suppliers (Clepa), this shortage problem may last until "well into" 2022. This body has calculated that the semiconductor crisis has delayed the production of some 500,000 vehicles throughout the world.