Used vehicle industry in Timmins managing unique issues
According to a Leger survey conducted in April on behalf of Ratesdotca and BNN Bloomberg, about seventy per cent of Canadians scrutinize costs like possible repairs and auto insurance when it comes to buying a new vehicle.
However it also finds that over forty per cent of new car buyers will now have to adjust their budgets due to high prices or availability.
“Sometimes it’s kind of impossible, people have to kinda buy what they can find and budget limitations may dictate what they’re able to buy too," said June Woodurn of Western Auto Sales.
Rinsing fuel prices and supply chain issues are creating months-long wait times for new vehicle orders.
And, in the used car industry, officials said many vehicles are getting scooped up in the United State and they say that's also tempting people to sell off their pickup trucks.
“I got a lot of people that are trying to sell their trucks ... prices are through the roof right now," said Kristian Korri, a used car sales advisor. "The used car market, I’ve never seen it like this. You could trade in a couple year old truck for a brand new one and break out pretty much even ... and historically you weren’t be able to do that. Every time you would take a loss."
After forty years in this line of work, owners in the vehicle sales business said they've never had to face issues like the ones they are now. Once accustomed to thirty to forty vehicles on their lot, many are now reduced to having only about a dozen on hand.