According to a recent analysis by DesRosiers Automotive Consultants, zero-emission vehicles, which include models electric and plug-in hybrids have experienced a strong increase in sales in 2021, despite their limited availability.
Electric and plug-in hybrid vehicles accounted for 5.2% of new vehicle registrations in Canada in 2021, a significant increase from 2020 with 3.5%. The increase was even more marked towards the end of 2021 with a figure of 6.2%, which clearly demonstrates the increasingly marked interest on the part of buyers.
Moreover, with the price of gasoline reaching peaks, we can expect an even more significant increase in 2022, especially if the production of electric models resumes a normal rate.
Interestingly, for the first time in history, sales of electric and plug-in hybrid vehicles exceeded those of diesel-powered models. These capped at 4.0% of sales, which demonstrates the significant change that we are experiencing in the industry. The price of diesel at the moment has nothing to revive interest in this type of fuel compared to electric.
Since 2018, there has also been a turnaround since battery electric vehicles (BEVs) now represent a much larger percentage of sales than plug-in hybrid models (PHEVs).
According to Andrew King of DesRosiers, while the segment of zero-emission vehicles is growing, their adoption varies greatly by region. All this combined with different government approaches across the country and a shortage of production materials, results in a very unequal distribution of electrified vehicles in Canada.
However, Quebec continues to dominate the market in terms of quantity, but British Columbia ranks first when looking strictly at the market shares of electric and plug-in hybrid models. Saskatchewan closes the ball with 1.1% of the shares.
Even if the sales of electric vehicles and plug-in hybrids are far from being at the level of gasoline models, the progression is accentuated. The current market also highlights their advantages. Hopefully availability will be there and high interest rates won’t hinder their adoption.