Leawood, KS, Nov. 23, 2021 (GLOBE NEWSWIRE) -- Anyone who is planning on buying a new vehicle in the next year may be very disappointed. There is a serious shortage of car chips, and it is predicted to last through 2023. It's not just car chips that are facing shortage either. Even microchips for electronic devices and robotics have come to a halt.

However, this shortage has had a big impact on the auto industry, affecting car dealerships and people in the market for a new car. This shortage has caused many problems for many industries because the microchip manufacturers are currently favoring companies that act as investors over those that act as consumers. While this chip shortage may affect how many people look at purchasing vehicles over the next year, CarGuard Trevor Smith has a solution for people. People may not be able to get the car they had their eye on, but they can still keep their current car safe with a CarGuard vehicle extended warranty.

This car shortage is going to have an impact on the automobile industry. People who are always on the hunt for the best deal possible when investing in a new vehicle aren't going to be pleased with what they find for the next couple of years. Many people will likely hold off and wait until this car chip shortage has passed, causing most protection plans through a dealer to expire. Anyone determined to buy a new car is likely going to face a lot of competition. Prices are predicted to rise on the cars that will be available, and the selection will be slim.

Many industries will likely take a hit over the microchip shortage. However, vehicle protection plan services are predicted to see an increase in clients. The competition for new cars is going to turn a lot of potential buyers off. This will leave many people deciding to wait a couple of years until they buy a new car.

However, people are still going to go that extra mile to keep their current vehicles safe. Companies like CarGuard Administration are likely to see an increase in people interested in making sure their current vehicles are fully protected over the next couple of years.

CONTACT: Jim Hansen 620-555-0119 contact@carguardadmin.com