The latest EY Mobility Consumer Index reveals that consumer interest in electric vehicles (EVs) in Canada is at an all-time high in 2023. Rising fuel costs, environmental concerns, and government incentives are driving 52% of Canadians to consider purchasing a fully electric, plug-in hybrid, or hybrid vehicle in the next few years, marking a 6% increase in buying intent compared to 2022. Cost-of-living concerns, particularly increasing fuel prices, now surpass environmental considerations as the primary motivator for Canadians to switch to electric cars. This shift underscores the importance of affordability in driving EV adoption. Government incentives, such as national energy transition strategies, are also justifying the cost premiums of EVs, with 75% of Canadians willing to pay up to 30% more for an EV compared to an internal combustion engine (ICE) vehicle.
Despite the increasing interest in EVs, Canada's EV uptake still lags behind the global average, albeit surpassing purchase sentiment in the US and Australia. Regional variations in EV intention exist, with Ontario and Atlantic provinces showing the highest interest, while Alberta and Quebec exhibit lower levels of intent. The survey identifies upfront cost as the top inhibitor to EV purchase, followed by concerns about limited battery range. Interestingly, worries about limited charging stations have decreased compared to the previous year. However, new concerns have emerged, including comfort with ICE vehicles and the expense of battery replacements, highlighting the need for continued efforts to address barriers to EV adoption. EY emphasizes the importance of strong incentive programs to bridge regional gaps in EV adoption and support the national energy transition. The Mobility Consumer Index provides valuable insights into shifting consumer attitudes towards mobility choices and sustainability, guiding policymakers and industry stakeholders in navigating the evolving landscape of electric mobility.
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