*This interview was conducted as part of Myall Coast Radio’s ‘Business Buzz’ series. You can listen to past episodes of the series at www.myallcoastradio.com.au.

“CAR prices are going through the roof,” Kalum Wright told Myall Coast Radio in a recent ‘Business Buzz’ segment.

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Kalum is the New Car Sales Manager for Port Stephens and Maitland Toyota and has worked there for three years.

“Since Covid started, Port Stephens and Maitland Toyota have seen a very high demand for cars,” said Kalum.

“Wait times for new Toyotas have gone out to twelve months for some models and customers are willing to pay a deposit and wait.

“Second hand car prices have also increased by up to 40 percent over the last two years and the private car market is booming,” he said.

Kalum said the extended wait periods for new vehicles has seen, in some cases, prices increase when a car leaves the showroom.

“These days, when you drive a new car out of the showroom, it can go up in price by $10,000.

“This is unheard of,” said Kalum.

“Delivery waiting times have dramatically increased and Port Stephens Toyota’s order book has increased by four times.

“People who bought cars three years ago are getting more for selling them now than they paid for the vehicle originally,” he said.

Kalum also noted the continual technological improvements being released with new vehicles.

“Technology is increasing in new cars with mobile phone connections permanently to Telstra to inform emergency services about the locations of stolen cars and if accidents occur,” said Kalum.

The first hybrid Toyota vehicle was launched over 20 years ago.

“Hybrid technology has reduced fuel consumption by 40 percent and increased performance,” said Kalum.

“Battery technology is long lasting and very reliable.

“Electric cars are very safe in rain storms as all the batteries are sealed units and waterproof,” he said.

Kalum also highlighted the issues with maintaining stock and supply of new vehicles and parts as a result of Covid-19, citing microchip availability as a main issue, alongside the closure of several Toyota factories in Thailand and Japan due to the pandemic.

Kalum grew up in Sydney’s northern beaches and has worked in the motor trade for 20 years.

His wife comes from the Port Stephens area and the family moved to the region once they started their family.

By Chris TAYLOR