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.
CTVNews.ca Top Stories
Grandparents killed in wrong-way crash on Hwy. 401 identified
A 60-year-old man and a 55-year-old woman killed in a wrong-way crash on Highway 401 earlier this week have been identified by the Consulate General of India in Toronto.
Police arrest 3 Indian nationals in killing of B.C. Sikh activist Hardeep Singh Nijjar
Three people have been arrested and charged in the killing of B.C. Sikh activist Hardeep Singh Nijjar – as authorities continue investigating potential connections to the Indian government.
Suter scores late goal, clinches series for Canucks
Pius Suter scored with 1:39 left and the Vancouver Canucks advanced to the second round of the NHL playoffs with a 1-0 victory over the Nashville Predators on Friday night in Game 6.
TD worst-case scenario more likely after drug money laundering allegations: analyst
TD Bank Group could be hit with more severe penalties than previously expected, says a banking analyst after a report that the investigation it faces in the U.S. is tied to laundering illicit fentanyl profits.
Quebec man who threatened Trudeau, Legault online sentenced to 20 months in jail
A Quebec man who pleaded guilty to threatening Prime Minister Justin Trudeau and Premier François Legault has been sentenced to 20 months in jail.
Human remains found in rural Sask. possibly a decade old, RCMP say
RCMP say human remains found in a rural area in central Saskatchewan may have been there for a decade or more.
Britney Spears 'home and safe' after paramedics responded to an incident at the Chateau Marmont, source tells CNN
A source close to singer Britney Spears tells CNN that the pop star is 'home and safe' after she had a 'major fight' with her boyfriend on Wednesday night at the Chateau Marmont in West Hollywood.
Canadian doctor concerned new weight-loss drug Wegovy may be used inappropriately
As Wegovy becomes available to Canadians starting Monday, a medical expert is cautioning patients wanting to use the drug to lose weight that no medication is a ''magic bullet,' and the new medication is meant particularly for people who meet certain criteria related to obesity and weight.
Drew Carey is never quitting 'The Price Is Right'
Drew Carey took over as host of 'The Price Is Right' and hopes he’s there for life. 'I'm not going anywhere,' he told 'Entertainment Tonight' of the job he took over from longtime host Bob Barker in 2007.