Automotive Insights – Canadian EV Information and Analysis Q1 2022
- In Canada, trends in zero-emission vehicles (ZEV = BEV and PHEV) picked up in the first quarter of 2022
- A ZEV now accounts for one out of every twelve new vehicles registered in Canada
- ZEV's market share increased to 8.3% in Q1 2022, up from 5.0% in the previous quarter
National Enhanced Fuel Type Trend
When compared to Q1 2021, New vehicle registrations fell by 9.3% overall and the combined volume of xEV light vehicles (EV/PHEV/HEV/FCEV) increased by 20% in Q1 2022, xEVs now account for 13.8% of all new registrations, while traditional ICE vehicles account for 86.2%.
Further comparison of Q1 2022, BEVs and PHEVs saw volume gains (6,748 and 1,807), while HEV and FCEV each saw volume declines.
Inventory constraints, new BEV and PHEV entrants, and increased fuel prices have accelerated the uptake of BEV and PHEV vehicles in the Canadian market.
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.