A recent study released by Volvo Car Canada unveils promising insights into Canadians’ attitudes towards electric vehicles (EVs), despite prevailing economic uncertainties. According to the 2024 Mobility Trend Report, 64% of prospective vehicle buyers in Canada are open to considering hybrid, plug-in hybrid, or fully electric vehicles as their next purchase within the next five years.
The report sheds light on the mixed sentiment surrounding EVs in Canada, with economic factors and consumer preferences influencing perceptions. While the majority express willingness to explore EV options, concerns about affordability (76%) and inadequate charging infrastructure (78%) remain prominent barriers.
Key findings from the report indicate that 72% of respondents perceive EVs as not worth the cost, and 65% worry about potential issues with charging infrastructure, such as the fear of running out of charge. Moreover, only 15% of Canadians believe that EVs offer superior overall cost benefits compared to traditional gas vehicles.
Addressing these concerns is deemed essential to bolstering consumer confidence in EV adoption. Respondents highlight the importance of factors such as extended range (46%), easier access to charging stations (42%), and enhanced government incentives (38%) in driving EV uptake.
In response to these challenges, Volvo Car Canada has taken proactive steps to expand charging access through partnerships like the one with NACS, which grants access to Tesla’s Supercharger network. Additionally, the company recently introduced the EX30, its latest compact SUV designed to offer a more accessible entry point into electrified mobility while maintaining Volvo’s hallmark safety standards and cutting-edge technology.
Matt Girgis, Managing Director at Volvo Car Canada, emphasizes the company’s commitment to addressing consumer concerns and advancing sustainability goals. With the EX30 and a diverse range of plug-in hybrid options, Volvo aims to cater to a broader base of potential EV owners, aligning with evolving consumer preferences and environmental responsibilities.
The report also highlights regional and demographic variations in EV interest, with British Columbia residents (74%) and younger demographics aged 18 to 34 (76%) showing the highest propensity towards considering hybrid, plug-in hybrid, or fully electric vehicles.
Volvo Car Canada’s dedication to electrification is evident in its recent sales performance, with electrified models comprising 50% of all March sales. The company remains steadfast in its commitment to sustainability, advocating for consumer education on EVs and collaborating with stakeholders to enhance the EV ecosystem nationwide.
