Electric vehicle (EV) adoption continued to soar in Canada in the third quarter of 2023, with a familiar EV taking the top spot in terms of overall sales, the Tesla Model Y.
According to new data from S&P Global released today, 13.3 per cent, or one in eight, of new vehicles registered in Q3 in Canada were zero-emission vehicles (ZEVs), which by definition includes hybrid and plug-in hybrid EVs. Overall, ZEVs now account for 19.4 per cent of total light-duty vehicles registered. When looking at pure battery electric vehicles (BEVs), 10.1% of all new light duty vehicle registrations during the third quarter were fully electric, the highest percentage ever, with overall volume increasing by 46.3%. These strong results gave BEVs a market share of 7.8% in the third quarter in Canada..
Quebec is leading the way in volume, with 40 per cent of ZEV sales coming from La Belle province. In comparison, British Columbia leads the way in terms of adoption, with ZEVs accounting for 26.4 per cent of new registrations.
Despite sales volumes remaining flat, the Model Y topped the charts in Q3 and maintained its overall lead in sales. While increases in sales of the Tesla Model 3, Ford Mustang Mach-E, and Ford F-150 Lightning all contributed to the sector’s overall growth.
Of note, 99 per cent of Model Ys and Model 3s registered in Canada were built out of Giga Shanghai, which is a drastic increase compared to last quarter, where only 42 per cent were built in China.
Interestingly, on the fleet side of sales and new registrations, Tesla is quite far down the list. Per the data, Ford is dominating. The North American automaker has first and second place wrapped up with the Ford F-150 Lightning and Ford Transit T350. While the Jeep Wrangler rounds out the top three. The EV niche has seen a significant 29 per cent growth year over year in fleet registrations, and we should expect this to continue as more and more companies look to save on long-term fleet costs.