These findings are from a survey conducted by Volvo Car Canada from October 2nd to October 4th, 2024, among a representative sample of 1,525 online Canadians who are members of the Angus Reid Forum. The survey was conducted in English and French. For comparison purposes only, a probability sample of this size would carry a margin of error of +/-2.53 percentage points, 19 times out of 20.
Higher fuel prices and environmental concerns are pushing more Gen Z Canadian consumers to consider buying electrified powertrains for their next vehicle, according to Volvo Car Canada survey findings.
The OEM released data from its survey showing a growing interest, primarily among Gen Z consumers (51%), and Millennials (54%), to consider a Plug In Hybrid Electric Vehicle (PHEV) — among other electric vehicle options. However, 91% of Canadian vehicle owners (no specific generation) are still leaning towards gas or diesel-powered vehicles.
“One of the biggest barriers for Canadians when considering an electric vehicle is concern over range and battery life,” said Matt Girgis, Managing Director at Volvo Car Canada, in a statement.
As the automotive landscape continues to evolve, the study serves to shed light on current adoption and usage around EVs among Canadian consumers. Even as many consumers eye non-EV options, there is a positive shift taking place. Volvo Car Canada said in its news release that 75% of Canadians feel that driving a PHEV will help lower fuel expenses.
The environment and the impact of gas and diesel-engines remains top-of-mind for 64% of Canadians when considering a PHEV. And 30% of Canadians are drawn to the flexibility of a PHEV, due to the electric battery and backup of a gas engine.
“Gen Z and Millennials are eager to make their next vehicle an EV, but they’re also clear on how much they’re willing to spend, and their preferred method of sale,” said the OEM in its update.
While older generations (such as Boomers) are used to and prefer to negotiate the price of the vehicle (44%), Volvo Car Canada said 49% of Gen Z and Millennials prefer a fixed price. This allows them to budget and plan for the cost of their vehicle.
