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Economy and Politics

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The latest prediction for a recession
December 2, 2022 by Adam Malik

However, vehicle sales may not react as they typically do during such times

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Economy set to cool: Survey
November 1, 2022 by Adam Malik

A new small business forecast is predicted a cooldown of the economy going into the end of the year. A new report from the Canadian Federation of Independent Business (CFIB) found that total GDP grew by just 0.3 per cent…

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Interest rates increased. More to come?
October 28, 2022 by Adam Malik

Interest rates in Canada are up half a percentage point following The Bank of Canada’s announcement last week. It further warned that rates will need to rise further to clamp down on inflation that hasn’t been seen in decades. This…

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New heights once again for U.S. car prices
September 22, 2022 by Adam Malik

For the fifth month in a row, new vehicle sales set a new high in the United States. Kelley Blue Book reported the average transaction price in August stayed above the $48,000 mark, coming in at $48,303. That’s a 0.5…

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Interest rate jumps. Where it could land?
September 9, 2022 by Adam Malik

The Bank of Canada announced another big interest rate increase with warnings that the figure could go even higher. The central bank raised its key interest rate by three-quarters of a percentage point to 3.25 per cent. And this likely…

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How N.W.T. is trying to encourage more EVs
August 31, 2022 by Adam Malik

The Northwest Territories is looking to change the conversation around electric vehicles and fears around cold and lack of infrastructure. A report from The Canadian Press explored the territorial government’s plans to develop a charging corridor that stretches from its…

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Where the latest EV chargers will be installed
August 4, 2022 by Adam Malik

EV Week in Canada in July spurred a number of new announcements for charging stations for electric vehicles by the federal government. In Ontario, a $765,000 investment in Peak Power Inc. to install 117 EV chargers across the province was…

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Feds announce medium, heavy-duty ZEV program
July 22, 2022 by Adam Malik

The federal government is bringing in new Incentives for vehicles not considered light-duty. The Medium- and Heavy-Duty Zero-Emission Vehicles (iMHZEV) Program started on July 11. It’s a four-year program with close to $550 million available. It is designed to help…

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Interest rates hike reflects ‘unusual’ circumstances
July 15, 2022 by Adam Malik

The Bank of Canada raised its interest rate by a full percentage point. That’s the biggest single increase since August 1998. It’s part of a strategy to bring inflation down to its target of 2 per cent after reaching a…

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Is the aftermarket still recession resilient?
June 29, 2022 by Adam Malik

The belief that the automotive aftermarket can withstand recessions and economic challenges faced by the average consumer may be out of date, according to a new report. The aftermarket has the reputation of being ‘recession resilient’ — when the economy…

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Interest rates hiked. How will this affect consumers?
June 10, 2022 by Adam Malik

The Bank of Canada issues another major increase to its key interest rate. It has some Canadians changing how they spend their money. It was the second time in two months the central bank raised its rate by half a…

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Inflation stays high once again
April 22, 2022 by Adam Malik

Gas prices were the biggest driver of inflation in Canada last month. Statistics Canada reported the inflation rate in March hit 6.7 per cent. That’s up from 5.7 per cent in February and the highest increase since January 1991 when…