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
Western University researchers unlock potential 'cure' for ALS
New research out of London, Ont.'s Western University is shedding light on a potential cure for ALS, in which the targeting of the interaction between two proteins can halt or fully reverse the disease's progression.
Police release 3D images of young child found in an Ontario river two years ago
Police have released a three-dimensional image of a young child whose remains were discovered in the Grand River in Dunnville, Ont. almost two years ago.
B.C. brings in law on name changes on day that child killer's new identity revealed
The BC NDP have tabled legislation aimed at stopping people who have committed certain heinous acts from changing their names.
Kamala Harris drops F-bomb during White House live-stream
U.S. Vice-President Kamala Harris used a profanity on Monday while offering advice to young Asian Americans, Native Hawaiians and Pacific Islanders about how to break through barriers.
B.C. man fighting for refund after finding someone living at Whistler vacation rental
Edwin Mostered spent thousands of dollars booking a vacation home in Whistler, B.C., for a group skiing trip earlier this year – or so he thought.
Avs forward Valeri Nichushkin suspended at least six months
Colorado Avalanche forward Valeri Nichushkin was suspended for at least six months without pay and placed in Stage 3 of the league's player assistance program.
Collapsed Baltimore bridge span comes down with a boom after crews set off chain of explosives
Crews conducted a controlled demolition Monday to break down the largest remaining span of the collapsed Francis Scott Key Bridge in Baltimore.
Security video caught admitted serial killer disposing of bodies in Winnipeg garbage bins
Security video caught admitted serial killer Jeremy Skibicki on multiple late-night outings, disposing of body parts in nearby garbage bins and dumpsters in the middle of the night.
Mortgage companies could intensify the next recession, U.S. officials warn
U.S. officials worry the next recession could be intensified by a cascading series of failures in the mortgage industry caused by crashing home prices, frozen financial markets and soaring delinquencies.