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[Alpha Biz=(Chicago) Reporter Paul Lee] In the wake of higher interest rates and eased supply shortages for semiconductors for vehicles, the waiting period for shipments in the finished car industry has been drastically reduced.

According to the finished car industry on the 1st, the waiting period for the release of new cars, which once increased by nearly two years depending on the car model, has decreased significantly this month.

The Genesis GV80 Gasoline 2.5 model had a 30-month waiting period as of December last year, but it was sharply reduced to 10 months this month. During the same period, the waiting period for the Avante hybrid model was also reduced from 20 months to 12 months. The electric car Ionic 6, which had to wait 18 months after the contract, can receive a car even if it waits about 13 months for the contract this month.

The increase in production due to a slight easing of semiconductor supply shortages since the second half of last year also affected the reduction of the waiting period for release. Hyundai Motor said in a conference call for its annual earnings announcement on the 26th of last month, "The shortage of semiconductors that has lasted for the past two years has gradually recovered since last year," adding, "We expect an increase in the utilization rate this year."

 

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