Buying intent for electric vehicles among prospective consumers in Canada is nearly 10 per cent below the global average this year, according to EY (Ernst & Young)’s latest Mobility Consumer Index report.
While overall car buying intent is up 6 per cent in Canada from 2023, EV intent to buy is down as consumers cited residential charging units (57 per cent) and electrical costs (54 per cent) as top concerns. In comparison, the global average for the intent to buy an EV climbed 3 per cent this year.
“We’re in the middle of a massive mobility shift and the dip in Canada’s EV demand is a wake-up call,” said Jennifer Rogers, Automotive and Transportation Leader at EY Canada, in a statement.
Other consumer concerns include limited driving range (33 per cent), surpassing upfront purchase cost (30 per cent), and fear over costly battery replacement (the third-highest concern for 27 per cent of consumers). Long wait times at public charging is a concern for 42 per cent of respondents.
“It’s evident that investment has been prioritized in EV development,” said Rogers in a statement. “Now is the time to shift focus to overcome infrastructure hurdles and address consumer concerns head-on if Canada is to achieve its ambitious 2035 targets.”
This may be particularly important as EY’s survey shows that, while 48 per cent of Canadians plan to buy a vehicle in the coming year, only half are considering an EV as their next purchase. EY said the decline may be due to the novelty of EV technology plateauing.
