Electric vehicles: does the suspension of incentives change your plans?

In recent days, the governments of Quebec and Ottawa have taken turns announcing the end of financial incentives for the purchase of electric vehicles. The subject inspired the Neomedia team to conduct a survey. 

Without giving a precise date, Ottawa announced on January 10 the suspension of its subsidy program for electric vehicle purchases, launched in 2019. While the program was originally scheduled to end on March 31, 2025, or when all available funds were used up, all indications are that the end is eminent for the program.

“Due to high demand, the incentive program for zero-emission vehicles (iVZE) will be suspended before March 31, 2025,” the government website explains. 

The iVZE program could fetch up to $5,000, depending on the type of vehicle.

Since its launch in 2019, more than 546,000 vehicles have received incentives under the program, which Ottawa says has helped Canada reach a new VZE market share of 11.7% by 2023: a significant increase from 3.1% in 2019. New VZE market share reached 14.2% in the first three quarters of 2024, including a new record of 16.5% in the third quarter of 2024.

This week we ask you the following question: Electric vehicles: does the suspension of incentives change your plans? Answer our weekly question via this link.