ZEV sales in Canada had yet another record-breaking quarter, with BC and Quebec driving records in the country.
Per S&P Global data, ZEV sales hit a record 10.5 per cent of market share in the second quarter of 2023. The increase was powered principally by battery electric vehicle registrations, with a jump from 6.9 per cent to 7.8 per cent quarter over quarter.
In fact, quarter two saw nearly 35,000 battery-electric vehicles registered nationwide, with the Tesla Model Y leading the charge at 6,487 units.
Interestingly, if Quebec continues its current pace, it will surpass British Columbia as the leading EV province by years end. British Columbia was at 20.5 per cent for ZEV market share, with Quebec just behind at 18.4 per cent. Yukon came in at third with 7.7 per cent, just beating out Ontario, who is lagging with only 7.4 per cent.
With these great quarter two numbers, S&P Global updated Canada’s ZEV market share forecast. The data company now forecasts Canadian ZEVs to hit 13 per cent market share by the end of 2023, rising to 17 per cent by 2024.
We have not seen the official Government of Canada numbers for quarter two yet, but we anticipate them to be around ten per cent market share for ZEVs if trends continue.
