Prices of used vehicles in North Macedonia on the rise due to the global shortage of microchips and semiconductors


The global shortage of microchips and semiconductors has caused problems in the automobile production sector worldwide. This problem also affects North Macedonia. According to the forecasts, the shortage of chips will last until the second half of 2022.

The problem with the microchips and the semiconductors problem has been present for a year and a half, resulting in some of the car factories closing down. This meant drop in the number of new cars, which caused a rise of the car prices. In developed countries, such as the United Kingdom and Germany, the media were reporting that the number of buyers canceling their new car purchases is on the rise because they cannot purchase the model they want.

The hindered production of new cars means that the people in the developed Western European countries are keeping their old vehicles, which is lowering the offer of used cars. This is increasing the price of old vehicles that are on sale.

In Macedonia, over 80% of the import of cars and other motor vehicles is in the category of used vehicles group. They are most sought after, car importers say.

Even though the consequences of the global lack of chips and semiconductors are causing a rise in the car prices in Macedonia, the correct numbers cannot be precisely stated.

The specialized car seller of used vehicles FAIRAUTO said for Meta.mk that this lack of parts is definitely influencing the increase in the demand for used cars in the country, but also the prices of cars have a tendency to increase.

The rise in the prices of used cars can be noticed even in the online adverts. The research that Meta.mk conducted shows a slight increase in the car prices, by analyzing the prices that the sellers posted several months ago compared to today.

Otherwise, Meta.mk had already written that during the first 6 months, the number of imported vehicles has increased twofold compared to the same period in 2020, when a decrease in the imports due to the COVID-19 pandemic was evidenced. The numbers in the records of the Customs administration show that for July and August 2021 the import of vehicles from abroad was almost identical compared to the same period in 2020.

Otherwise, at the start of this year, the Ministry of Economy stressed that in 2021 it will ban the import of used cars from abroad that are below the EURO 5 standards for the emission of gasses. Still, their latest decision is to delay the ban of vehicles older than 10 years for 2022.

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