Fewer Canadians are considering buying an electric vehicle, marking the third year in a row interest has dropped despite lower EV prices, a survey from AutoTrader shows.
Forty-two percent of survey respondents say they’re considering an EV as their next vehicle, down from 46 percent last year. In 2022, 68 percent said they would consider buying an EV.
Meanwhile, 29 percent of respondents say they would exclusively consider buying an EV—a significant drop from 40 percent last year.
The report, which surveyed 1,801 people on the AutoTrader website, shows drivers are concerned about reduced government incentives, a lack of infrastructure and long-term costs despite falling prices.
Electric vehicle prices fell 7.8 percent in the last quarter of 2024 year-over-year, according to the AutoTader price index.
The survey, conducted between Feb. 13 and March 12, shows 68 percent of non-EV owners say government incentives could influence their decision, while a little over half say incentives increase their confidence in buying an EV.
