Canada’s federal EV rebate program has issued a record number of electric vehicle (EV) rebates over the last several months. On average, the program has delivered around 4,200 monthly rebates since its launch in May 2019. However, between May and June of this year, the program issued over 30,000 rebates or 10,000 per month.
According to a report from the Canadian Press, the jump is not a simple outlier and could point to the fact that Canadians are starting to look to EVs for their next car. This is especially true in Quebec and British Columbia, with the provinces dominating as customers can double up with a provincial rebate.
A rush of EV deliveries in the spring also did help, but with growing wait lists and more EVs rolling out from OEM automakers, we could see a great summer and fall in terms of EV rebates.
The real question remains whether auto companies can keep up with demand. Per Dunsky, early reporting does show that inventory is better in 2023 and should continue an upward trend. However, traditional automakers continue to struggle to deliver vehicles. Waitlists for some vehicles are pushing years at this point which will certainly impact EV growth.
Simply put, Ford, GM, Hyundai and others need to sort out their production issues if we are to see any massive spike or market share change here in Canada. Tesla has done wonders for the EV landscape, but many Canadians still want to drive a traditional OEM.
