Car dealers optimistic supply of new vehicles will come this spring

Amid a shortage of new cars on P.E.I. throughout the COVID-19 pandemic, some P.E.I. car dealers say they are being told by manufacturers that supplies and inventory should start to level out come March or April.

"It's still early for inventory predictions for the calendar year, but I would say things are more positive than they were in 2021," said P.E.I. Automobile Dealers Association (PEIADA) executive director Lisa Doyle-MacBain.

However, some Islanders have already taken their own measures in order to adapt to the lingering supply chain delays.

Kensington resident Gordon Coffin has been reluctantly driving his convertible in the middle of winter while awaiting the year-round four-by-four he ordered in September.

"I'm not going to put winter tires on a convertible, OK," said Coffin. "It's not what I should be driving."

For the last few years, he drove a four-by-four truck ideal for withstanding harsh winters, but he said he wanted to downsize and also obtain a new hybrid vehicle.

Coffin was hopeful it would arrive before winter. But due to the delay, his only option is to be extremely careful where he goes with his car.

Despite noticing the low inventory at the Summerside car lots he's driven past, Coffin said he knows others who have gotten their orders on time.

"My dealer was very upfront with me and says, 'We are experiencing supply chain issues,'" said Coffin.

"Christmas has come and gone and the dealer has been responsive, but apparently there's not a thing that the dealer can do."

Doyle-MacBain said manufacturers typically give more incentives for past year models that dealerships normally receive in the first quarter of the following year, which means buyers can get a combination of lower prices, cash back or low financing rates.

"Customers are being very understanding and patient and they're prepared to wait for their factory orders, and sometimes it's up to six months," said Doyle-MacBain.

For those waiting on their cars, Doyle-MacBain said vehicles ordered in 2021 but arriving in 2022 will continue to hold their value.

She recommends anyone in the market for a vehicle speak directly with local dealerships for availability information as inventory levels depend on the manufacturer and brand.