Canada’s EV Adoption Goals at Risk as Consumer Interest Declines
Baris Akyurek, vice-president of insights and intelligence at AutoTrader, highlights growing concerns about Canada’s electric vehicle (EV) adoption goals, based on ongoing consumer surveys since 2022. Although EV sales have risen slightly, consumer interest has declined sharply, with only 42% of non-EV owners considering an EV for their next vehicle, down from 68% in 2022.
Growth has been heavily concentrated in Quebec due to incentives, while national sales growth is slowing. Major barriers like range anxiety, high purchase costs, and inadequate charging infrastructure persist, worsened by the recent suspension of federal incentives.
Without renewed government support, Akyurek warns, Canada risks falling short of EV adoption targets, repeating mistakes seen in other countries like Germany. Sustained incentives and consumer education are critical to closing the gap between ambition and reality.
Used Vehicle Prices Dip in May Amid Strong Year-Over-Year Gains and Rising Consumer Confidence
In May, wholesale used-vehicle prices declined slightly from April, with the Manheim Used Vehicle Value Index falling 1.4% to 205.2, although prices remain 4% higher than last year. April’s tariff-related spike gave way to modest depreciation in May, particularly mid-month, before leveling off.
Canadian Wholesale Market Declines Amid High Supply and Industry Shifts
For the week ending May 31, 2025, the Canadian used wholesale market saw prices decline by -0.18%, with car segments down -0.14% and truck/SUV segments down -0.21%.