Canadian zero-emission vehicle registrations saw a bounce back in quarter two and set a new all-time high in volume.
According to the latest data from S & P Global, zero-emission vehicle registrations now make up 13.4% of overall registrations—a shocking 26.9% improvement over quarter-over-quarter.
Newer entrants that helped push this growth included Porsche, Polestar, and Cadillac, all of which recorded growth rates of over 200%. While volume-wise, Chevrolet, Ford, Kia, and Tesla registered over 2,000 vehicles in Q2.
Tesla saw a decrease in overall market share, dipping to 21.9% of zero-emission vehicles. This dip should not surprise anyone, given the number of new entrants and new ZEVs entering the Canadian market.
Nationally, British Columbia, Quebec, and Ontario continue to lead the nation in volume. However, Quebec is leading in adaptions, with 50.8% of new ZEVs registered inside La Belle province. The substantial numbers out of Quebec are mainly due to the province’s strong green policies, including the highest-paying provincial incentive in the country, which unfortunately is being phased out by 2027 due to a large provincial deficit.
It is all good news, but for those looking forward, ZEV numbers could see a slight decline in Q3 due to low inventory levels across the market. Inventory levels for battery-electric vehicles decreased by 43% between January and July 2024. Meanwhile, that inventory drop is 40.4% for hybrid vehicles over the same period.
You can read the full S & P Global report here.
