A new survey from accounting firm EY finds that fewer consumers in Canada plan to buy an electric vehicle.
The survey found that Canadians’ intentions to buy a new vehicle within the next two years are up 6% compared with 2023, but fewer people plan to make their purchase an electric vehicle.
Only 15% of consumers who were polled said they plan to purchase a fully electric vehicle between now and 2026. That’s down from 18% of people who said the same a year ago.
Canadians say they are reluctant to buy an electric vehicle because of the higher price and limited driving range on a full battery charge.
Other concerns cited in the EY survey include battery replacement costs and a lack of public charging infrastructure to support electric vehicles.
EY Canada says the survey shows Canadians have significant concerns about electric vehicles and those worries need to be addressed if the country is to meet its climate targets.
Among the 15% of survey respondents who said they plan to purchase an electric vehicle, high gasoline prices and federal monetary incentives were cited as top reasons for their decision.
According to the federal government in Ottawa, only about 5% of all vehicles sold in Canada are fully electric models.