EV buying consideration cools, with range, price, infrastructure top concerns

Just 11 per cent of new-vehicle shoppers in Canada say they are “very likely” to consider an electric vehicle (EV) for their next purchase, down three percentage points from 2023. That strong sense of resistance is the main theme from the J.D. Power 2024 Canada Electric Vehicle Consideration Study, which finds that perceptions of limited driving distance per charge, high purchase price and lack of charging station availability are the biggest factors limiting EV consideration.

“Auto manufacturers are staking their futures on EVs and investing massive sums in battery manufacturing facilities in Canada, but the reality is that they are still considerably more expensive than comparable gas-powered vehicles and more education is needed to help shoppers feel comfortable making the transition,” said J.D. Ney, director of the automotive practice at J.D. Power Canada.

“While tackling the affordability problem is going to take some time, the other big obstacles right now—vehicle range and lack of experience with EVs—can be mitigated by broad consumer education. However, about half of shoppers in Canada still have never been in an EV, which limits purchase consideration.”

The following are key findings of the 2024 study:

• EV consideration declines for second consecutive year: Nearly three-fourths (72 per cent) of vehicle shoppers say they are either “very unlikely” or “somewhat unlikely” to consider an EV for their next vehicle purchase. That is up five percentage points from 2023 (67 per cent) and up 18 percentage points from 2022 (53 per cent).
• Range anxiety, purchase price and charging infrastructure are top roadblocks: Among shoppers who say they will not consider an EV for their next vehicle purchase, limited driving distance per charge is the most frequently cited obstacle to consideration (68 per cent). It is followed by purchase price (61 per cent) and lack of charging station availability (60 per cent).
• Half of consumers have still never experienced an EV: Despite widespread awareness of EVs and growing efforts by manufacturers to make EV test drives available, 52 per cent of vehicle shoppers have never been in an EV. Among those in Canada who have rented, borrowed or test driven an EV, 36 per cent say they are “somewhat likely” or “very likely” to consider purchasing an EV.
• Provinces offering incentives show highest consideration rates: The rate of EV consideration is highest in the province of Quebec, with 40 per cent of shoppers there indicating interest in EV ownership. This is followed by 33 per cent of shoppers in British Columbia who say they have an interest in EV ownership.