According to the latest reports, the market share of zero-emission vehicles in Canada is strong in Q1 2023. Data from S&P Global shows ZEVs now account for one out of every 11 or 9.1 per cent of the vehicles registered in Canada in 2023. That is up from 8.3 per cent in Q1 2022 but down compared to Q4 2022 by 1.1 per cent.
British Columbia and Quebec continue to dominate and lead the nation in terms of ZEV registrations. BC leads the way with 19.7 per cent, and Quebec comes in second with 14.4 per cent of new vehicle registrations being ZEV. The rest of the country is all below the national 9.1 per cent, with Ontario (6.2 per cent), Prince Edward Island (5.6 per cent) and Nova Scotia (5.3 per cent) rounding out the top five.
In terms of an outlook, ZEV looks to be on the cusp of truly taking over. According to the same data set, there are 41 models set to be launched in Canada in 2024. The real question will be if the rest of the country can catch up to British Columbia and Quebec in terms of ZEV new vehicle registrations.
If ZEVs can expand their market share in key markets such as Ontario, Alberta and Nova Scotia, we could see ZEV percentage eclipse well into the double digits.
