Latest news with #CentennialNissan
CBC
3 days ago
- Business
- CBC
P.E.I.'s energy-saving rebate changes will let infrastructure catch up by slowing demand, some say
A company in P.E.I.'s solar panel industry says the province is putting jobs at risk by cutting a homeowner rebate in half. But some, like Trevor Leeco of Centennial Nissan (shown) say it's good to put the brakes on encouraging the sale of heat pumps and electric cars, at least until the Island charging network and power grid catch up with demand. CBC's Sheehan Desjardins reports.
CBC
08-04-2025
- Automotive
- CBC
Tariff fears driving up sales of non-U.S. vehicles on P.E.I., dealers say
Social Sharing Some dealerships on Prince Edward Island are seeing a boost in sales amid consumer concerns about how U.S. tariffs on the auto industry will affect vehicle prices. March sales at Centennial Nissan in Charlottetown were up 45 per cent from the same time period last year, said general manager Trevor Leeco. "We probably had 12 to 15 customers directly affected — or at least thought they were going to be directly affected — that had a lease coming due in the next few months that pulled the trigger just because [they] didn't know about the what ifs," Leeco said. He said sales have been going so well that they've been taking inventory orders that other Nissan dealerships in the Maritimes are rejecting. Last Thursday, President Donald Trump imposed a 25 per cent tariff on foreign vehicles imported into the U.S. Next month, the same tariff will be applied to car parts. It's unclear how the Trump administration will determine the U.S. content in those imports — in other words, the value of their American components. Prime Minister Mark Carney instituted retaliatory tariffs that same day, meaning parts and vehicles will face levies coming into Canada, too. Nissan is one of the dealerships on P.E.I. that may be less affected by tariffs because many of the models it sells aren't made in the U.S. — the majority come from Japan and Mexico. "Vehicles going back and forth [across the U.S. border] could be hurt much more than an import coming from a different country," Leeco said. Islanders ditching American-made cars At Charlottetown Mitsubishi, sales have been "fabulous," said owner and general manager Tammy Roach. "People are looking to support dealerships that aren't American-made, and we're fortunate that our vehicles come directly from Japan," Roach said, adding that her shop's inventory is shipped from Japan to Vancouver with no stops in between. Some dealers selling American-made models told CBC News that they're concerned about sales decreasing as drivers opt to ditch their current set of wheels. "They want to get rid of their American-made vehicles, so they're just looking to get a different VIN… that doesn't start with a 1," Roach said, referring to the vehicle identification number that indicates a car's country of origin, among other characteristics. "It seems like the imports perhaps are doing very well right now." While sales are going well and inventory is stocked up, Roach said the long-term effects on the economy and Canadians' pocketbooks are always in the back of her mind. "I'm a little hesitant to make any big business decisions right now, any big business changes," Roach said.
CBC
07-03-2025
- Automotive
- CBC
U.S. tariffs would drive P.E.I. car prices up and supplies down, say auto sellers
Social Sharing Canada's automotive industry was given a month-long reprieve from U.S. President Donald Trump's tariffs on Wednesday afternoon, but some Prince Edward Islanders say they're concerned about what could happen if the levies return in 30 days' time. At Centennial Nissan in Charlottetown, Trevor Leeco said he's watching on a day-to-day basis to see what will happen next. "If this does happen, plants' closures would be imminent, price and inventory issues would arise probably in the next month or so," said Leeco, the general manager of the dealership. That could spell trouble for the automotive industry overall, with prices going up and inventory levels going down, Leeco said. "It might not be great for customers or businesses alike if this does happen." New car prices could rise Some customers have reached out with concerns about availability and prices, Leeco said, adding that some are rushing to buy or lease now, as opposed to in the summer time. "Inventory levels are great right now, programs are good, and we can guarantee the prices at least for the next month," Leeco said. "Outside of that, it's kind of out of our control." Why some Prince Edward Islanders are rushing to purchase a vehicle right now 4 hours ago Duration 2:06 If tariffs did come into effect, Leeco said the prices of new cars could go up anywhere from $4,000 to $12,000. Those increases wouldn't affect cars that are already in lots at dealerships on P.E.I., but they would apply to new inventory coming in. "The turnaround time from the time we order a car to the time it lands here is two to three months," he said. "So by summer time, we could be looking at some very increased prices if this doesn't all blow over." Used cars also affected It's not just new cars that would be affected by automotive tariffs. The used-car market would also feel the impact, said Roger Long, owner of Long's Auto Centre in Charlottetown. His company repairs and sells used Toyotas, but finding used cars becomes more difficult when there aren't as many new ones to let the owners of years-old models trade up. "You try to buy every Toyota you can find, but if the new[-car] dealer has no new ones, then there's no supply of used ones," Long said. "It'll be the same as the pandemic… supply and demand will decide," he said. Sales could also suffer from the effect of tariffs on P.E.I.'s economy as a whole, Long said. People could start hanging onto their old, paid-off cars because they don't know if their job might go sideways, he said. "Consumer confidence is very important because if they think that they're going broke, they don't want to get in over their head." What's next? The North American auto industry is an integrated business involving three countries, said Long. "You can't cut one out without the other two. If you cut out Canada or Mexico, then the Americans have no work, no cars," he said. If Trump comes here, we have potatoes. We can throw them at him. — Roger Long "The problem is that the people making decisions have no clue about the car business." If it gets to a point where production grinds to a halt and there are no more cars in the lot, Long jokingly offered an alternative use for the space: "I guess we'll be playing street hockey." As for the U.S. president, Long has a different plan.
