It looks like the inventory situation is getting even worse at my local dealer. Previously, they always had a few that were either coming in or on the lot in an odd color combo and/or trim, but now they have ZERO 350h coming in (and not spoken for) or on the lot. Unless production is increased wait times will only get longer as more and more people come off leases and need a new vehicle. Don't have real insight but it appears the supply chains have been irreparably broken swinging prices, interest rates, and relative currency valuations. I don't see a fix any time soon. I'm so bummed.

 

you’re spot on. I work in the plant. I see no way out of the backlog. There are constant part shortages. Now more chip shortages (1 key fob only). Orders continue, production delayed. The plant is running at full capacity when it can. I agree that the supply chain is likely irreparable, or years from improvement. Sad state of affairs worldwide.

 

Actually I think in CA it's been better than most states. At least you get 450h's which you can't get outside of a few states (maybe CA only?), and states with certain laws get more allocation of regular hybrids too - CA being one of them. In western WA there hasn't been an "unspoken for" 350h in I don't know how long. My dealer had one devoted to test drives, but hasn't had one for sale in forever. The inbound inventory is spoken for probably out to May/June 23 now (my dealers list was about 140 or so waiting, and they get maybe 8-12 per month). But agree it's a big problem. And the more time they make me wait, the more time I have to maybe think of other choices I have. Strange times we live in. Lexus isn't the only one in this spot. Can't get a Rav4 hybrid or prime for the same reasons. My kids recently just bought a Hyundai and Kia and it was very similar story, just shorter wait times. But they could not buy off the lot - they waited about a month. And these were just regular non-hybrid/non-electric.

 

I just took delivery of my 2023 NX 350h ultra luxury in Ontario. Order on April 5 and finally delivered on Monday. Never waited this long for a vehicle before, but I am glad it's finally here.

 

Are you lease/finance? What rate are you paying?

 

Finance. Rate is 7.3 - loyalty

 

Wow, that sounds steep!

 

Just took deliver of my 2022 NX350h Luxury package Nov 1, 2022.
Ordered back in Jan 2022, so a 10 months wait.
I am also the unlucky owners that only get one remote key and have to wait for dealer to call me back to program and pick up the 2nd key. Hopefully within 3 months of ownership.

If you can pass on the hybrid, then probably shorter wait times. But you will be paying more if you are leasing/financing due to much higher interest rates now.

When the NX350 and NX350h are priced about the same with similar equipment (at least in Canada), it's difficult to justify the extra fuel costs for the NX350 with today's gas prices.

 

You really really have to want the performance and auto transmission of the 350 to prefer it over the 350h. Otherwise at current gas prices, especially here in California with $6+ gas probably soon to rocket higher, the 350 is a lousy deal.

 

that’s Canada eh 👍

 

After that I will poked around. It looks like the best rate at a credit union here is around 6% for up to 60 months. Still a lot. With rates so high and used car prices so elevated, I predict:

- many people coming off a lease will choose to buy their car since it is probably going to be worth a lot more than the residual

- significantly fewer people will be leasing cars going forward because of the cost of money

This means demand for new cars is set to drop. But unfortunately I think production will still trail even the lower demand.

 

yes, 7.5% financing will drive away a lot of the demand. The cost of borrowing was definitely a driver of the avg Joe buying luxury items. The demand will drop, but there will be a lag for sure.

I’ve noticed a slight drop in used car prices in Canada. Until inventory grows at dealerships that won’t change much. I could see a lot of people backing out of their orders though when they realize their ordered NX at 3% was not locked in, and is now 7.5%.

 

Used car prices apparently being held artificially high by holding on to cars.
https://www.youtube.com/c/AutomotiveLifeTV/videos

There would have to be a lot of cancellations for supply to improve given a more than 1 year wait. Even if 50% cancel, that's still down to a 6 month wait.

 

Ordered my 350h in May and just took delivery.

 

Post some pics in the sticky thread.