Opinion: Canadians are facing a cost-of-living crisis due to soaring prices for everything from transportation to food. Now, life is about to get even more expensive with the federal government’s plan to regulate vehicle sales.
that regulating vehicles sales doesn’t boost ZEV adoption, the federal government continues to advance this outdated and redundant policy.committed through 2030
According to recent data from J.D. Power, the transaction price of a compact SUV averages just over $40,000 . Compare that to $60,000 for an electric equivalent. A similar price gap exists between electric and gas-powered compact cars, a critical segment for Canadians with limited vehicle budgets., the price gap is nearly $15,000 for a buyer in Canada’s most populous province, where no provincial incentive exists.
The question, then, for policymakers is: How to bridge the price gap and make ZEVs more affordable and attractive to millions of Canadians?an annual analysis conducted by Ernst & Young Global that assesses markets based on supply, demand and regulatory factors, Canada ranks next to last among the 14 countries in the study. A key driver of Canada’s poor performance is a lack of demand due to the high cost and concerns with charging infrastructure.
For Canadians who live in multi-unit residential buildings or homes without access to charging, a comprehensive and accessible public charging network will be required. To support a fully electric vehicle fleet, Canada will need nearlyby 2050 powered by clean, affordable, and reliable electricity generation and grid infrastructure. With only 16,400 public chargers available today, Canada is not on track to have the charging infrastructure required to boost ZEV sales.
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