A new research by consulting firm KPMG on Electric Vehicle Adoption reveals as many as 70 per cent of Canadians plan to buy a new vehicle within the next decade, of which over three in five (62 per cent) intend to make their purchase in the next one-to-five years.
Key Survey Findings
- Of the 62 per cent of Canadians planning to buy a new vehicle in the next one-to-five years:
- 68 per cent are very likely or likely to purchase an EV, pure or hybrid
- 77 per cent in British Columbia and 75 per cent in Quebec say they are in the market for an EV. By comparison, fewer people in Alberta (54 per cent), the Prairies (48 per cent) or Atlantic Canada (55 per cent) in the market for a new vehicle are likely to buy an EV.
- Men are more inclined to buy an EV than woman (73 per cent vs. 62 per cent, respectively).
- Nearly four in five (79 per cent) of those aged 18 to 44 – comprised predominantly of Millennials and Generation Z – say they are very likely or likely to buy an EV within the next five years, compared to 58 per cent of those aged 45 years and older.
- 42 per cent in the market for an EV within the next five years are prepared to spend between $30,000 and $49,999 and 20 per cent are willing to spend up to $74,999. About a third (31 per cent) in the market for an EV within the next five years want to spend less than 30,000.
- 83 per cent of Canadians believe the auto makers should be required to invest in a national charging infrastructure.
- 89 per cent want EV charging stations installed at "every gas station" as well as shopping malls and grocery stores.
- 61 per cent say the pandemic made them realize that they need a vehicle. They said they would rather drive than take public transport.