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News   April 20, 2022   by Adam Malik

How many, and how soon, Canadians plan to buy an EV

Canadians are increasingly in favour of buying an electric vehicle today than one year ago, according to a new study.

Canadian Black Book’s annual study on car buying trends included a focus on consumer attitudes towards EVs. Its most recent survey found that 39 per cent of Canadians are likely to buy an EV in the next five years.

That’s up from 30 per cent just one year ago.

Canadian Black Book called the jump of nine percentage points “a significant shift.”

“Although this is a sizable number of Canadians considering an EV option in the near future, we should still recognize that 61% of those surveyed suggested that they are not likely to buy an EV in the next five years,” noted James Hancock, director of OEM strategy and analytics at Canadian Black Book.

That said, the growth is something to take note of as higher fuel costs, more options and more education are playing roles in changing attitudes, he added.

British Columbia, perhaps unsurprisingly due to some of the highest gasoline prices in Canada, led the way with 53 per cent of respondents saying they were likely to buy an EV soon. Albertans responded with the least interest as 21 per cent said they were planning to do so.

As for reasons why they wouldn’t buy an EV, 61 per cent said the cost is too high while 35 per cent indicated a lack of charging infrastructure as a barrier. Other reasons included range concerns (27 per cent), maintenance costs (25 per cent) and a lack of government incentives (15 per cent).

Of note, younger Canadians seemed most interested in an EV with 47 per cent of the 18-34 age group saying so.

“Attitudes are changing towards EVs, and the industry is taking notice and adjusting. The 2021 model year had 24 EV options available to Canadian car buyers. At Canadian Black Book, we estimate those options to grow to 130 models by 2030,” Hancock said. “The growth in options will certainly spur growth in awareness and overall adoption. OEMs are finding ways to ease consumer concerns, through longer battery warranties or even battery as a service (BaaS).”


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