Entertainment

Moncton dealer says used-vehicle prices rising due to higher demand, reduced inventory – National

Maritimers in the market to buy a used vehicle can expect to find fewer options and higher prices.

Production delays on new vehicles are driving up demand and pricing for pre-owned options said Dwight Perry of Moncton who owns D. Perry Motors.

He says he has been selling used vehicles for 14 years and has never seen the challenges like the ones seen during the COVID-19 pandemic.

Read more:
Shopping for a new vehicle? Why the semiconductor chip shortage is making certain models hard to find

“The trouble to get inventory — I have never experienced this before,” said Perry, noting that he has been struggling to access pre-owned inventory from car auctions.

“Normally we would carry 70 or so units for sale and right now we have about 32,” he said.

Story continues below advertisement

He says demand for used cars has increased significantly since the coronavirus outbreak began, and a global shortage of semiconductors — a small but computer chip used in some new vehicles — has slowed new car production for months.










Buying a new/used vehicle? Tips on finding the best deals on wheels


Buying a new/used vehicle? Tips on finding the best deals on wheels – Jun 11, 2021

Demand for used inventory is soaring on both sides of the border, Perry said.

“There is still a huge demand in the [United States] to get vehicles so they are coming here with their American money, buying with a 25 per cent advantage on the dollar and they are able to pay more for the vehicles than we are,” he said.

Story continues below advertisement

Vehicle exports have increased 55 per cent compared to 2020 and 27 per cent compared to 2019, according to Canadian Black Book numbers.

Perry said that is driving up wholesale and retail used car pricing here in Canada too — by as much as 10 per cent.

Read more:
Online searches for luxury vehicles appear to spike in 2020

So be prepared to pay more for a pre-owned vehicle said Don Babineau who manages OK Tire in Moncton.

“If you do find a vehicle that you want you pretty much have to jump on it because if you don’t it is going to disappear,” he said.

But he said don’t jump too quickly, especially if you are buying online.

“You can ask many questions: the mileage and the condition of the vehicle and what kind of maintenance schedule the vehicle had. But, overall the vehicle should be checked by a certified technician so you don’t have any major issues,” he said.

He says even a vehicle purchased from a reputable dealer should be thoroughly inspected by a third party before any money changes hands.










What you need to know before buying a car in a pandemic


What you need to know before buying a car in a pandemic – Mar 12, 2021

View link »





© 2021 Global News, a division of Corus Entertainment Inc.

You May Also Like

World

France, which has opened its borders to Canadian tourists, is eager to see Canada reopen to the French. The Canadian border remains closed...

Health

Kashechewan First Nation in northern Ontario is experiencing a “deepening state of emergency” as a result of surging COVID-19 cases in the community...

World

The virus that causes COVID-19 could have started spreading in China as early as October 2019, two months before the first case was identified in the central city of Wuhan, a new study...

World

April Ross and Alix Klineman won the first Olympic gold medal for the United States in women’s beach volleyball since 2012 on Friday,...

© 2021 Newslebrity.com - All Rights Reserved.