Canadians’ interest in buying an EV falls for third year in a row: AutoTrader survey

An electric vehicle (EV) charger is plugged into a vehicle at an iGreen Plus Co.,Ltd charging station in Bangkok, Thailand, on Wednesday, July 17, 2024. Shares of Energy Absolute, the embattled renewable energy company in Thailand, fall by the 30% daily limit for a second day after the countrys securities regulator announced a fraud probe against its two top executives. Photographer: Valeria Mongelli/Bloomberg (Valeria Mongelli/Bloomberg)

TORONTO — 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 per cent of survey respondents say they’re considering an EV as their next vehicle, down from 46 per cent last year. In 2022, 68 per cent said they would consider buying an EV.

Meanwhile, 29 per cent of respondents say they would exclusively consider buying an EV — a significant drop from 40 per cent 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 per cent 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 per cent 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.

This report by The Canadian Press was first published April 24, 2025.

Ritika Dubey, The Canadian Press