The chief executive of salary packaging and fleet management company Smartgroup says new vehicle supply constraints are likely to continue until well into 2022 and Chinese automotive brands such as LDV, MG and Haval are gaining traction in Australia because they are less affected by the global shortage of semiconductors.

Tim Looi also said on Friday that the group is on a clear growth path, and he’s not looking anxiously in the rearview mirror on the expectation that private equity bidders led by TPG Capital might make a return after their $1.4 billion buyout proposal ended up going nowhere in October.