According to Volvo Car Canada’s 2024 Mobility Trend Report, there is a strong inclination among Canadians toward considering electric vehicles (EVs) for their next vehicle purchase, with 64% of respondents open to hybrid, plug-in hybrid, or battery EV options.
However, the report also highlights several challenges that ZEV (Zero Emission Vehicle) automakers must address to boost EV adoption in the country. The key findings include:
- Cost Barrier: A significant 76% of respondents find EVs too expensive, indicating a need for more affordable models in the market.
- Charging Infrastructure: 78% of Canadians believe that the current EV charging infrastructure is insufficient, which could be hindering EV adoption as a viable option for their next vehicle.
- Value Perception: Only 15% of respondents believe that EVs offer better overall value compared to traditional vehicles, taking into account factors such as cost, maintenance, insurance, and charging/gas prices.
- Environmental Benefits: Despite the known environmental advantages of EVs, almost two-thirds of respondents feel that these benefits are exaggerated.
The report also sheds light on additional insights:
- Range Anxieties: 46% of respondents expressed that a vehicle with a more extended range would influence their decision, suggesting a need for improvements in this area.
- Government Incentives: 38% of respondents expressed a desire for better government rebates or incentives to consider a ZEV.
The report’s findings highlight the increasing interest in EVs among Canadians. However, significant barriers such as high costs, inadequate charging infrastructure, and perceived value challenges must be addressed to accelerate EV adoption in the country.
