Tesla Model Y dominates Canadian ZEV market in 2023

Canadians set another record in 2023 for zero-emission vehicle (ZEV) sales in the country, and Tesla continued to dominate the segment.

According to S&P Global Mobility data, the Model Y saw significant volume increases and ended the year accounting for 18.6% of the overall ZEV market. This was good enough for first place in the zero-emission segment, ahead of offerings from VW, Chevrolet, Ford and others.

Despite the surge in sales of the Model Y, Tesla’s overall registration figures dropped across the country last year, showing the signs of there being more ZEV options in Canada in 2023. In Ontario Tesla’s share of ZEV new vehicle registrations dropped from around 60% to around 40%, with a similar drop experienced in BC.

At the national level, Tesla’s share dropped from around 40% to around 30%, according to S&P data.

Zero-emission vehicles ended 2023 with 11.7 % of the overall light vehicle market, up from 8.9 % in 2022. To the surprise of no one, British Columbia, Quebec, and Ontario led the pack in terms of overall registrations.

Quebec has seen a massive jump in terms of ZEV ownership, jumping from 13.17 % in 2022 to 20.44%. Interestingly, Tesla is not the best-selling ZEV in Quebec. Instead, that honour goes to Chevrolet with the Chevrolet Bolt EUV, which edged ahead of the Model Y with approximately 300 more registrations.

However, Tesla’s recent price adjustments in Canada, which triggered the Model Y Long Range to become eligible for the province’s $7,000 rebate, could be an indication that the automaker is looking to increase market share in the second-largest market in Canada heading into 2024.

For its sake, British Columbia continues to lead in ZEV adoption and now sits at almost a quarter of light vehicle registrations, being ZEV or 22.91%.

Ontario continues to benefit from pure volume but is not seeing overall percentages change much. From 2022 to 2023, the country’s biggest province only saw a 0.81% increase in the share of ZEV registrations.

In the Atlantic regions, Nova Scotia, New Brunswick, and Prince Edward Island (P.E.I.) each experienced remarkable annual growth rates surpassing 100% (138.2%, 105.2%, and 133.9% respectively). Among these, P.E.I. emerged as the frontrunner, achieving a ZEV adoption rate of 7.4%.

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