Volvo Cars: 64% of Canadians eyeing electrified vehicles for next purchase

Volvo Cars: 64% of Canadians eyeing electrified vehicles for next purchase

However, 76% of those not open to purchasing an EV say it’s too expensive, and 64% feel the environmental benefits of EVs are over-hyped.

According to new Volvo research, 64% of Canadians looking to purchase a new vehicle say they would consider a hybrid, plug-in hybrid, or fully electric in the next five years. This insight appears in the 2024 Mobility Trend Report, an exploratory study by Volvo Car Canada. The study comes as the country is experiencing mixed sentiment in the EV category due to Canadians’ automotive preferences and evolving economic conditions.

The 2024 Mobility Trend Report highlights that amidst economic headwinds, three-quarters of Canadians who wouldn’t consider an EV, say it’s because they’re too expensive. While other barriers center on infrastructure and charging aspects of the vehicle: 65% are worried they will get stranded if they run out of charge, and 59% say there are not enough places to charge one respectively, according to the report.

New data points to help illustrate the barriers that are top of mind and the current sentiment toward fully electric vehicles include:

  • Three-quarters (76%) of those not open to purchasing an EV say it’s too expensive;
  • Nearly four in five (78%) agree there currently isn’t enough publicly available charging infrastructure to make electric vehicles a good option and 72% say they aren’t worth the cost;
  • Only 15% of Canadians feel EVs are generally better than gas vehicles in terms of overall costs, including purchase price, gas/charging costs, maintenance, insurance, etc.;
  • Two-thirds (64%) feel the environmental benefits of EVs are over-hyped.

The company said addressing these concerns is critical to making a difference in consumer willingness to purchase an EV, as 46% of respondents said vehicles with a longer maximum range would make a difference, 42% said easier to find charging stations, and 38% said better government rebates or incentives.

In 2023, Volvo Car Canada unlocked additional charging access with NACS that will come into effect this year as an effort to address consumers’ concerns around charging infrastructure. The agreement will enable access to Tesla’s Supercharger network providing access to an additional 12,000 fast-charge points.

Recently, Volvo Car Canada launched the EX30, designed to have the smallest CO2 footprint of any Volvo car to date.

“Understanding that early adopters have already transitioned to electric vehicles, we’re focusing on the broader base of potential EV owners who are deterred by cost and infrastructure concerns,” Matt Girgis, managing director at Volvo Car Canada said. “With the EX30, we offer a gateway to electrified mobility, combined with the advanced safety technology that Volvo is known for.”

According to the 2024 Mobility Report, those most likely to consider a hybrid, plug-in hybrid, or fully electric vehicle are from BC (74%) and between the ages of 18 and 34 (76%).

“The introduction of the EX30 marks a pivotal moment for Volvo Car Canada. As we navigate through the evolving consumer market, our record-high sales in EVs demonstrate a successful alignment with consumer demand and environmental responsibilities,” Girgis added. “And for those customers not quite ready to make the jump into a fully electric vehicle, we offer a broad range of plug-in hybrid vehicles, to ensure we’re meeting Canadians where they’re at.”

Volvo Car Canada said it remains committed to its sustainability goals, continuously adapting to meet the needs of Canadians and paving the way for a greener future. The company said it plans to expand its discussions on consumer education about EVs and collaborate closely with stakeholders to enhance the EV ecosystem across Canada.

You May Also Like

Schaeffler showcases hydrogen electrolyzers, fuel cells

Schaeffler is also demonstrating progress toward commercialization of green hydrogen at the Hydrogen Americas 2024 Summit and Exhibition.

Schaeffler-hydrogen-fuel-cells

Schaeffler is showcasing its work in the field of hydrogen electrolyzers and fuel cells and its progress toward the commercialization of green hydrogen at the Hydrogen Americas 2024 Summit and Exhibition in Washington, D.C.

Schaeffler says its core competencies – honed through its bearings production that requires exact tolerances in engine, transmission and industrial component manufacturing, along with its team of scientists, technology labs and strategic acquisitions of hydrogen-focused technology companies – equip it to deliver the products and technologies needed to scale the market, the company said.

Virginia will not adopt California’s ICE ban

Elected in 2021, Virginia Governor Glenn Youngkin campaigned on repealing California’s standards.

Heavy-duty-truck-emissions-stock
ZC Rubber unveils new EV series and EV editions of Westlake and Goodride tires

ZC Rubber introduced the Westlake ZuperAce EV, alongside the EV editions of Westlake ZuperAce Z-007 EV Ready and Goodride Solmax 1 EV Ready.

ZC-Rubber-EV-tire-lineup
Hexagon Agility, Brudeli to deliver NZEVs for U.S. freight transport

The companies plan to introduce the first pilot trucks with this technology in 2026, with serial production slated for 2028.

BRUDELI-Green-Mobility
Isuzu announces NRR EV truck with electric refrigerated body

Available with 3 wheel base options and 4 battery pack configurations, Isuzu says the truck will have a max range of 235 miles.

Isuzu-NRR-EV-TKe300-Reefer

Other Posts

Stora Enso and Altris collaborate on a sustainable battery value chain in Europe

The companies plan to drive adaptation of Stora Enso’s hard carbon solution Lignode as an anode material in Altris’ sodium-ion battery cells.

Altris-Stora-Enso
Parkopedia, BMW Group to expand EV POI data

This new functionality includes information such as the precise location of the charger, data including charging availability and more.

Parkopedia-BMW-EV-POI
Hyundai shares vision for hydrogen society at ACT Expo

The company says it is leveraging its affiliates’ cross-industry capabilities spanning the entire hydrogen value chain.

Hyundai_Motor-Hydrogen
ZM Trucks debuts five EV truck models at ACT Expo

ZM Trucks Asian-market production models displayed at ACT Expo included the ZM4, ZM8, ZMx FCEV and ZM22.

ZM-Trucks-zm8