Whether you're interested in buying, renting or repairing, automotive experts are warning Canadians entering the vehicle market to bring extra money -- and patience.
Ongoing supply chain issues impacting inventory and pricing have slowed somewhat, but data suggests it could still be a rough ride for prospective car buyers deep into 2023.Buying a new vehicle is a lot more expensive than it used to be, and a large chunk of that can be blamed on a slow supply chain.
"The shortages is an ongoing problem," ATB Financial economist Rob Roach said. "It hasn't worked itself out yet. I think there's a light at the end of the tunnel, but it might still take a large portion of this year before supply is really able to bounce back."Roach tells CTV News he believes it could take until 2024 for the sales market to look somewhat normal once again.
Because of persisting demand problems, many lots are still not replenished. And trying to do so can be costly.
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