Archive for July, 2007

More buyers turning to eBay Motors

Monday, July 23rd, 2007

These days, Internet-savvy consumers searching for a good deal are looking beyond newspaper listings and auto dealerships when looking for new vehicles. They are turning to the Web, specifically eBay Motors.

Reginan Carl Wingert bought a 1990 Ford Explorer on eBay Motors from Winnipeg for $6,000 less than what he would have paid in Regina.

Wingert also used the Web site to buy a 32 foot Winnebago from Arizona for $10,000 less than what it would normally go for.

Read full article on Canada.com »

Strong dollar drives us to record U.S. car imports

Sunday, July 22nd, 2007

Canadians used the power of the dollar – which is at a 30-year high against the American dollar – to import a record 112,826 automobiles from U.S. car dealers in 2006.

The North American Automobile Trade Association (NAATA), which represents automobile importers, said the 2006 import figure represents a 55-per-cent increase from 2005.

It can be complicated to work through U.S. and Canadian customs paperwork and importing often invalidates the automobile’s warranty coverage. But the savings, even after taxes, duties, registration fees and transportation, can be substantial.

The numbers of imports to B.C. have grown with the strength of the dollar. ICBC doesn’t separate countries of origin, but spokesman Doug Henderson said the provincial insurer registered 24,000 imported automobiles in 2006 compared with 15,800 in 2005. In 2002, the figure was 6,700.

Canadian car dealers don’t like losing the sales, but the current situation is a reversal from the trend about eight years ago when the Canadian dollar was at its weakest and U.S. buyers bought huge numbers of autos off Canadian car lots.

Read full article from the Vancouver Sun »

Surging loonie causes flap in US-Canada trade

Sunday, July 22nd, 2007

As sales manager of a Mercedes-Benz dealership in Buffalo, New York, 20 miles from Canada, Irene Connors has experience of the pain and the gain caused by the soaring Canadian dollar.

The surging loonie, named after the loon bird on the one dollar coin, has put a dent in Ms Connors’s shopping trips to Toronto, a two-hour drive away.

The currency hit a 30-year high of almost 96 US cents last Monday, heightening speculation it is headed for parity with the US dollar for the first time since November 1976. The loonie hit a low of 62 US cents little more than five years ago.

Mr Connors used to drive to Toronto once every two months but a trip last weekend was her first in almost two years. “It doesn’t make it as much of a bargain when the money is at par,” she says.

On the other hand, Mercedes-Benz of Buffalo is one of many US car dealers – some as far afield as Chicago and New York – inundated by Canadian buyers seeking to take advantage of a widening gap between US and Canadian car prices.

Read Full Article from Euro2Day » 

Buyers importing more U.S. cars into Canada

Sunday, July 22nd, 2007

A record number of Canadians are looking to their American neighbours for their next new or used car, a trend that will grow with the strength of the loonie, said the North American Automobile Trade Association.

Last year, 112,826 American cars were imported into Canada, said Brian Osler, association president.

That’s a 55 per cent increase from 2005 and almost three times the number that were brought in five years ago, when the Canadian dollar was at a record low.

The dollar, which reached a 30-year high earlier this week, was sitting at 95.37 cents US at Friday’s close.

As the loonie continues to rise, so will Canadian’s demand for cheap American cars, Osler said. And more and more consumers are realizing the thousands of dollars they could save by buying American, he said.

“There is one beneficiary and one beneficiary only; it’s consumers,” Osler said.

Five years ago, Andrew Pilsworth, owner of A & T Wholesale and Leasing on Eastchester Avenue, was seeing Americans flock to buy Canadian cars as the loonie hovered just above 60 cents US.

Now the tables have turned, and he has Canadians asking how they can get their luxury dream car for a less-than- extravagant price….

Read full story from the Welland Tribune (St. Catherines) »

Loonie has Canucks eyeing U.S. for cars

Monday, July 16th, 2007

by: GREG KEENAN
AUTO INDUSTRY REPORTER
July 10, 2007

The surging dollar has sent a record number of Canadians looking for a new or used car bargain south of the border, says the North American Automobile Trade Association.

Canadians imported 112,826 vehicles from the U.S. last year, the first time more than 100,000 vehicles came north and a 50-per-cent increase on the number brought into Canada in 2005 – a dramatic reversal of what happened just five years ago when the dollar was hitting record lows. The dollar closed yesterday at 95.27 cents (U.S.), a slight decline from Friday’s 30-year high of 95.33 cents.

In 2002, Americans imported 211,797 Canadian-purchased vehicles. That number plunged to just 9,496 last year.

“A lot of people are starting to realize the savings that are out there,” said Stephen Bulyovsky, co-owner of Canadian Auto Associates Ltd. in Guelph, Ont., which buys mainly used U.S. vehicles.

“New vehicles? Buying them in the U.S. is getting a little bit trickier,” Mr. Bulyovsky said yesterday.

Vehicles from the luxury Lexus line of Toyota Motor Corp. are popular, he said, as are those from Toyota’s youth-oriented Scion brand, which the auto maker does not sell in Canada.

Cross-border shopping for new vehicles is a huge can of worms for auto makers…

Read Full Article at TheGlobeAndMail…

Lower U.S. car prices steer shoppers across border

Friday, July 6th, 2007

A growing number of thrifty Canadians are crossing the border for new cars and trucks as the dollar continues to rise in value.

Consumers, like Winnipegger Kevin Partridge, say the trip is worth the effort, even after factoring in import taxes, duty and the PST. Partridge purchased his 2006 Toyota 4-Runner on holiday in Dallas.

“We saved ourselves close to $10,000 — worth the trip,” he said.  “We’re very happy with the vehicle and our experience has been good.”

Read full article from CBC.ca »