In the News – Highlights with CITYTV
New car sales in Canada have rebounded signaling a possible vote of confidence from consumers that the pandemic could be rounding the corner. David Zura at CityTV explains.
Official Suppliers
It’s being called the largest decrease to basic insurance rates in over 40 years
Car owners across the province could save, on average, 20% on vehicle insurance next year,
Minister of Public Safety and Solicitor General Mike Farnworth, who is also in charge of ICBC, said his government intends to apply to the British Columbia Utilities Commission (BCUC) on Tuesday for what he calls the largest decrease to basic insurance rates in over 40 years.
Story Previously Appeared in Motortrend
18 years and three generations later, the Cayenne lineup includes several variants ranging from the base model to the handling-focused GTS, plus plug-in hybrid versions and a fastback-like Coupe introduced in 2019. Since its inception, it has won the grueling TransSyberia Rally, it has set lap records on the Nürburgring, and a diesel-powered model earned a spot in the Guinness Book of World Records for towing an Airbus A380 for nearly 46 yards. We don’t know what’s next yet, but we’re betting it’ll take less than 18 years to reach the 2 million mark.
For Immediate Release
Newly Minted Provincial Cabinet Appointments Congratulated
Vancouver, BC – The New Car Dealers Association of BC (NCDA) is welcoming yesterday’s newly minted Provincial Cabinet, and several appointments that will have a direct and significant impact on the auto industry and our road to economic recovery in this province.
The Honourable Selina Robinson was sworn in as the Minister of Finance, the Honourable Ravi Kahlon as Minister of Jobs, Economic Recovery and Innovation, the Honourable George Heyman as Minister responsible for the Environment, the Honourable Bruce Ralston as Minister of Energy, Mines and Low Carbon Innovation, and the Honourable Mike Farnworth, Minister of Public Safety and Solicitor General (now assumes responsibility for ICBC).
“The NCDA has been fortunate to have established a very positive and collaborative working relationship with the key Ministers, including Energy and Mines, through which our Association facilitates the CleanBC Go Electric Vehicle Rebate Program,” said NCDA President and CEO Blair Qualey. “We look forward to continuing to build on the existing relationship as government establishes a path to economic recovery while ensuring the transition to clean energy vehicles continues at a rapid pace.”
The partnership between the provincial government and BC’s New Car Dealers has produced tangible results that have benefitted the environment and the economy. In doing so, BC has helped to forge a leadership role in electric vehicle adoption, which has been further supported by thoughtful policy and investment decisions that will lead to further growth.
“The NCDA also wishes to express our sincere thanks and gratitude to former Finance Minister Carole James for her many years of public service, and the thoughtful and respectful manner in which she has always conducted herself. In a new role as special advisor to the Premier, we know Ms. James will continue to make a valuable contribution to the province,” concluded Qualey.
About the New Car Dealers Association of BC: The NCDA is the provincial industry association that represents close to 400 new car and truck dealers throughout British Columbia. Members of the Association provide over 30,000 family supporting jobs for British Columbians and are responsible for over $16 Billion of retail sales in the province. The Association speaks on behalf of the retail, new automotive industry to the public, media, and government, and deals primarily with the legal, environmental, and consumer issues relating to vehicle sales in BC. The NCDA owns and operates the Vancouver International Auto Show.
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Contact:
Shona Wercholuk
604-805-4821
From Business Council of BC…
Following massive job losses in March and April, the number of people working in the province has been rebounding for five months now, punctuated by a healthy 55,000 jump in September. True, employment is still nearly 100,000 below the level in February. But at one point almost 400,000 workers had been furloughed. To see more than three-quarters of them back on the job puts B.C. on a better-than-expected recovery path.
Some historic context is helpful. A loss of 100,000 jobs represents a 3.7% decline from February. During the 2008-09 recession, employment in B.C. fell by 72,000, a 3.2% contraction. In that previous recession, young people were disproportionately impacted. The same is true today. The number of people aged 15 to 24 with jobs is currently down 11% from February. This decline is more than three times that among the core working-age cohort (aged 25 to 54). Meanwhile, for workers over age 55 employment has fully recovered. In the previous 2008-09 recession, the magnitudes of the job losses across age cohorts were broadly similar to what we have seen in 2020.
Canadian Black Book’s Used Vehicle Retention Index reached an all-time high in September with 109 points — up 1.6 points from August, demonstrating a “dramatic” rebound of used car values that started when COVID-19 lockdown measures were eased.
“The surge in demand, combined with a widespread shortage of vehicles, have boosted the index to this new record high,” said CBB in its report.
The September record represents a 1.5 per cent gain from the previous month, and a 0.7 per cent gain (0.8 index points) year-over-year. CBB said the index has now regained whatever it had lost since February due to the impact of the pandemic.
“In September, many segments are still in the recovery phase from the value decline which began in February,” said CBB. “The index fell during that period by 7.8 index points or 7.2 per cent of its value, which was a remarkable and unprecedented decline in wholesale values, a record month-over-month loss at the time.”
Workers and employers who need to extend temporary layoffs beyond the Aug. 30, 2020, expiry date are reminded to apply for a variance using the Employment Standards Branch’s new online application by Aug. 25.
“I urge any employers who think they need to extend temporary staff layoffs further, to please read the information we have online and reach out if you have any questions,” said Harry Bains, Minister of Labour. “We have made the application process simple and easy to use and there are ministry staff available to help guide an employer through the process or answer any questions.”
As businesses return to more normal operations during Phase 2 of B.C.’s Restart Plan, WorkSafeBC officers may call or visit to evaluate how businesses are protecting workers from COVID-19 in their workplace.
WorkSafeBC has developed these frequently asked questions (FAQs) – they outline what can be expected from an inspection.
For more information on resources available to BC’s New Car Dealers in response to COVID-19, please visit the Dashboard here.
As British Columbia prepares to enter Phase 2 of its economic restart plan, the Province welcomes the release of the initial set of WorkSafeBC guidelines that will help businesses and organizations develop their plans to reopen safely in the coming days and weeks.
“These guidelines are an important step in B.C.’s economic restart process, as they will support businesses and organizations developing their individual COVID-19 safety plans and measures to keep employees and customers safe,” said Harry Bains, Minister of Labour. “All employers must work with their employees to develop their safety plan to protect everyone as they prepare to reopen.”
A review of ICBC’s financial situation since the start of the provincial state of emergency shows both positive and negative financial impacts on ICBC’s bottom line.
With almost no capital reserves to withstand fluctuations and volatility in the markets, it is too early to determine whether the pandemic will result in benefits to pass on to drivers.
