In the second quarter of 2023, Zero-Emission Vehicle (ZEV) sales in Canada reached a new record, accounting for 10.5% of the market share, according to data from S&P Global. This increase was primarily driven by battery electric vehicle registrations, which saw a significant jump from 6.9% to 7.8% quarter over quarter. The quarter also witnessed approximately 35,000 battery-electric vehicles registered nationwide, with the Tesla Model Y leading with 6,487 units. Notably, British Columbia and Quebec were the key drivers of ZEV sales records in the country. British Columbia held the top spot with a 20.5% ZEV market share, closely followed by Quebec at 18.4%. Yukon ranked third with 7.7%, slightly ahead of Ontario, which lagged behind with only 7.4%. Quebec's impressive performance suggests it may surpass British Columbia as the leading EV province by the end of the year if it maintains its current pace. Encouraged by these strong quarter two numbers, S&P Global has revised its forecast for Canada's ZEV market share, now predicting it to reach 13% by the end of 2023 and rise further to 17% by 2024. This trend reflects a growing adoption of electric vehicles in Canada, driven by factors such as environmental concerns, government incentives, and the availability of more electric vehicle models in the market.
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