Lately, it seems like there have been a lot of shortages across many different supply chains. People are finding it hard to find a variety of items from toilet paper to cat food. We’ve become accustomed to seeing poorly stocked shelves at the grocery store due to a variety of issues such as rising fuel costs, transportation issues, and material availability.
But now it seems that there is a different supply shortage that will be affecting those who might be thinking about purchasing a new car. And the reason? A magnesium shortage.
As Jalopnik reports, the car industry has shared that because of a shortage of magnesium, there may be a global scale cut back on new vehicles hitting the sales lots.
That is because magnesium is such a vital part of the car creation process as it is used to make the aluminum alloys that are found in so many car parts like the body panels, brakes, and wheels. Because of the shortage, many car manufacturers won’t be able to produce as many cars.
But why is there suddenly a shortage? Well, roughly 85% of the world’s magnesium supply is made in China. Currently, because of the country’s energy crisis, many of its factories are shutting down. Adding to the struggle is the fact that magnesium oxidizes quickly, so it can’t be stored for too long either.
Luckily, magnesium is also produced in the US, so manufacturers shouldn’t be completely out of luck. Still, there is another problem regarding a semiconductor shortage. These chips are used to calculate fuel injection, and because of the shortage, there is a huge markup on car prices. And with the magnesium crisis, it will only make the problem worse.
So, if you’ve been thinking about getting a new car it might be a good idea to wait and see what happens. Granted, if you’re in a position where you need to get a car, it might be a good idea to either shop around for different options or even think about getting one that is used.
Regardless of which choice you make, now is the critical time to make sure you maintain your car in good condition with regular inspections, oil changes, and maintenance because you’re probably going to want to be holding onto it for as long as you can.