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    BLOG Sep 13, 2024

    Automotive Insights – Q2 2024 Canadian EV Information and Analysis

    HIGHLIGHTS (vs Q1 2024)

    • Zero emission vehicles (ZEVs) account for 1 in 8 new vehicles registered in Canada. ZEVs market share was 13.4% for Q2 2024; up from 12.5% in Q1.
    • ZEVs volume increased 36.9% while total light duty vehicles (GVW =< 8,500 lbs) volume increased by 27.3% .
    • The market share of battery electric vehicles (BEV) increased to 9.9%; with volume increasing by 36.3%.

    ZEV Registrations Bounce Back

    Quarter 2 has proven to be a pivotal period for zero-emission vehicle (ZEV) registrations in Canada, marking an all-time high in volume. New ZEV registrations in this period surged, pushing the overall market share to 13.4%, up from 12.5% in Quarter 1 — an increase of .9 percentage points. This is due to an impressive 36.9% quarter-over-quarter volume increase.

    Download the full Canadian EV Insights report and sign up to receive future installments

    This article was published by S&P Global Mobility and not by S&P Global Ratings, which is a separately managed division of S&P Global.
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