How Manitoba RV and boat dealers are coping with inflation
RV and boat supply shortages during the pandemic made getting the vehicles tough to obtain, but with stock back to pre-pandemic levels, other challenges are now on buyers' minds.
Nikki Spence is looking to buy an RV and boat for her family to use this summer.
"Being able to take up residence at a place that's different than in the city and just being out on the water and being outside. Just having that easily accessible," she said when asked why she wanted one.
Spence was among the attendees at the Mid Canada RV & Marine Show on Sunday.
Derek Roth, a presenter at the event, says COVID-19 sparked many to look into buying boats and RVs.
"The pandemic did many things, and one of the greatest to come out of it is that many people rediscovered the areas they live already," said Roth. "You don't have to travel great distances to enjoy the places we have here in Manitoba."
Roth said as demand increased during the pandemic, supply chain issues greatly hampered the availability of products.
"It's not just the manufacturers saying we can't provide more product. It's their manufacturers that can't provide the product. You've heard of microchips in the vehicle industry; well, there are all kinds of things."
Roth says a lot of the supply issues have been resolved, but there are still lingering challenges.
Dave Amey, a sales advisor at Transcona Trailer Sales, says his company's stock has returned to normal, but prices are still higher than before.
"We've seen a stabilization now, finally. Due to lots of reasons, as we all know, lettuce, butter, everything has gone up. Right now, we are sort of seeing a stabilization."
Another issue driving up prices is interest rates.
"It's certainly a talking point," said Amey. "They affect all of us whether you're making a purchase or it's your mortgage. You need to factor that into your budget for sure."
The Bank of Canada's key interest rate now sits at 4.25 per cent, the highest it's been since 2008.
A factor that gives potential buyers some pause.
"It certainly would influence our decision, definitely more than it would in the past," said Spence.
"They kind of suck now, but prices have gone up considerably. It's not affordable to everyone now," said Aaron Arnason, who was also at the show.
Roth said the price challenges aren't deterring buyers set to spend their summer outdoors.
"Yes, it's an increase, but if I were to calculate what it is in the difference, it's not enough to say, 'okay, we aren't going to pursue this purchase,'" he said.
CTVNews.ca Top Stories
Poilievre will do 'anything to win,' must condemn Alex Jones endorsement: Trudeau
Prime Minister Justin Trudeau is ramping up his attacks on Conservative Leader Pierre Poilievre as he promotes his government's federal budget.
'My stomach dropped': Winnipeg man speaks out after being criminally harassed following single online date
A Winnipeg man said a single date gone wrong led to years of criminal harassment, false arrests, stress and depression.
'One of the single most terrifying things ever': Ontario couple among passengers on sinking tour boat in Dominican Republic
A Toronto couple are speaking out about their 'extremely dangerous' experience on board a sinking tour boat in the Dominican Republic last week.
Ottawa injects another $36M into fund for those seriously injured or killed by vaccines
The federal government has added $36.4 million to a program designed to support people who have been seriously injured or killed by vaccines since the end of 2020.
Video shows suspects waving weapons, smashing glass in Toronto jewelry store robbery
Arrests have been made after five men were captured on video rampaging through a jewelry store in Toronto, waving weapons and smashing glass display cases.
Ex-SNC executive sentenced to prison term in bridge bribery case
The RCMP says a former SNC-Lavalin executive has been sentenced to three and a half years in prison in connection with a bribery scheme for a bridge repair contract in Montreal.
What Canadians think of the latest Liberal budget
A new poll suggests the Liberals have not won over voters with their latest budget, though there is broad support for their plan to build millions of homes.
opinion Why you should protect your investments by naming a trusted contact person
Appointing a trusted person to help with financial obligations can give you peace of mind. In his personal finance column for CTVNews.ca, Christopher Liew outlines the key benefits of naming a confidant to take over your financial responsibilities, if the need ever arises.
Teacher shortages see some Ontario high school students awarded perfect grades on midterm exams
Students at a high school in York Region have been awarded perfect marks on their midterm exams in three subjects – not because of their academic performances however, but because they had no teacher.