A global shortage of microchips occurred due to the coronavirus pandemic as factories across the world suspended production lines. While the pandemic is coming to an end, waiting times for new cars are still lengthy.

"Cars ordered during the [micro]chip crisis are stuck in a large backlog of orders which factories are still fulfilling. Due to this, manufacturers have not completely caught up with all their orders. There is no longer a direct chip crisis, but a large number of cars still need to be produced and are on hold, and this is impacting delivery times," Elke Group CEO Taavi Lepik told Tuesday's "Aktuaalne kaamera".

Deliveries of some models are delayed by several months.

"Four to five months is the fastest delivery for some models, and it can be over a year, a lot depends on the model, production and demand," said Lepik.

For electric cars, the wait is even longer.

AMTEL CEO Arno Sillat said more and more people are buying electric cars which are pushing up demand. The EU wants 10 percent of all cars to be electric by 2035 and currently, the share is only 10 percent.

"We have to reach 100 percent in 12 years. This means that hundreds of mines have to be opened around the world. Today's pace is not satisfactory and it can be felt that we will miss [the target]," Sillat said.

Both buying and leasing cars have become more expensive over the last year.

Sillat said this makes people think more deeply about whether they want to buy or lease a new car at all.

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