Toronto, Ontario — According to EY Mobility Consumer Index 2024, consumer appetite for electric vehicles (EVs) may be showing signs of slowing, with only 50 percent of Canadians reporting desire for an EV, down two percent year-over-year.
The study further notes that compared to Canadian interests, global intent to purchase a vehicle saw a seven percent increase from 44 percent to 51 percent since last year, with those choosing an EV experiencing a two percent increase to 57 percent.
For EY, “waning interest may be attributed to the novelty of EV technology and the wave of early adopters levelling out.”
And, for Canadians specifically, “consumers continue to voice concerns and push for improvements in areas that, if not addressed in the coming years, could negatively impact EV sales and national targets of reaching 20 percent of new vehicles sold by 2026, 60 percent by 2030 and ultimately 100 percent by 2035.”
Furthermore, according to the index, charging infrastructure continues to be the primary detractor to market entry. Notably, “more than half of respondents shared that installation costs of at-home charging units, at 57 percent, and electrical costs, at 54 percent, topped their list of concerns, while 42 percent listed oft-beleaguered availability and long wait times at public charging stations as negatively impacting their user experience.”
To see the full report, click here.
