Canadians skeptical of Trudeau's EV mandate, interest in purchasing EVs drops for second year straight

Canadians' interest in electric vehicles (EVs) has gone down for the second year in a row, according to an annual survey from AutoTrader.

Despite the best efforts by EV manufacturers, Canadians are still hesitant to pull the trigger and purchase an EV for a flurry of reasons.

Data shows that Canadians are wary of the capabilities of EVs, as well as concerns around charging infrastructure, higher costs, and ability to perform in cold weather — which Canada has plenty of.

Analysts also warned of the possibility of 'negative unintended consequences' of the Trudeau Liberals EV mandate.

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At least 68 percent of Canadians were interested in buying an EV in 2022. That number has since declined to 56 percent in 2023, and 46 percent in 2024.

“AutoTrader data shows a direct correlation to gas prices and EV interest, and since gas prices have normalized from their peak in 2022, EV interest has also dropped,” a summary of the survey says.

Hybrid vehicles, however, have seen a slight increase in interest, for both the plug-in and traditional varieties. Of those who are looking to purchase an EV, 62 percent said they would look at a gas-electric hybrid, which is an increase from 52 percent last year.

60 percent would consider a plug-in hybrid, an increase of 6 percent from 2023.

The survey asked respondents about the Trudeau government's Zero Emission Vehicle (ZEV) mandate, ensuring that all new light-duty vehicles in Canada are zero-emission by 2035.

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"Over 75 percent of respondents are aware of the federal government’s ZEV mandate, which requires all new light-duty vehicles sold in Canada to be zero-emission by 2035. However, they also believe it’s 'unlikely' that Canada will be able to meet the federal government’s ZEV target due to the current inadequate charging infrastructure or a change in political power that could revoke or amend the ZEV mandate timeline," the survey reads.

The survey found that the average price of a new EV vehicle declined in 2023, down 17.6 percent year over year (YoY).

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"On the used car side, pricing also dropped 11.4 percent YoY. The supply of EVs is also increasing" the report reads. "EV and hybrid inventory has surged by 145 percent, with new vehicle growth nationwide experiencing a staggering 522 percent increase, and used EV/hybrid inventory is up 43.5 percent."

In a 2023 Ipsos Canada survey conducted for BrokerLink, a subsidiary of insurance brokerage Intact Financial Corporation, it was discovered that 71 percent of Canadian gas-powered vehicle owners are hesitant to part with their cars.

However, among the 2,000 Canadians surveyed, 59 percent expressed enthusiasm about driving an EV in the future, with an equal percentage saying they would consider purchasing an EV as their next vehicle.