Toronto, Ontario – The Ontario Motor Vehicle Industry Council (OMVIC) has issued a report that indicates a significant feeling of uncertainty among Ontario auto-dealers.
The survey issued by OMVIC shows that, when asked about their confidence in the strength of the economy in the long-term, 36 percent of dealers considered themselves to be “not at all” confident in the future. This is compared to 38 percent who are neutral on the issue, and 24 percent who say they are confident or very confident in their future prospects.
What could be mostly agreed upon, however, is the feeling that sales will drop in the next six months with 72 percent of dealers responding as such.
The report also features testimonials from members of the automotive industry. One respondent wrote that, if it was not for its on-site bodyshop, it would have closed in June.
“It is very hard to be a small car dealer,” wrote the anonymous respondent. “We have an auto repair facility to fall back on, but without that, we’d have closed in June due to no sales. I have rotting inventory sitting around that people are offering ½ for because all they have is CERB and banks are refusing car loans to consumers.”
Vehicle shortages also continue to impact auto dealers as 78 percent reported they are experiencing difficulty acquiring new–or even used–inventory.
A link to the full report can be found here.
