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Automotive Insights – Q1 2024 Canadian EV Information and Analysis
HIGHLIGHTS (vs Q4 2023)
Zero-emissions vehicles (ZEVs) account for 1 in 8 new vehicles
registered in Canada. ZEVs market share was 12.5% for Q1 2024; down
from 13.2%.
ZEVs volume decreased 9.3% while total light duty vehicles (GVW
=< 8,500 lbs) volume decreased by 4.0% .
The market share of battery electric vehicles (BEVs) decreased
to 9.2%; with volume decreasing by 11.7%.
ZEVS Registrations Pull back
Quarter-over-Quarter Volume and Share Changes: From the fourth
quarter of 2023 to the first quarter of 2024, the volume of ZEV
registrations decreased 9.3%. Correspondingly, the market adoption
rate of ZEVs also saw a slight decrease from 13.2% in Q4 2023 to
12.5% in Q1 2024.
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