logo
Open the door to cheaper electric vehicles from Europe, advocates urge

Open the door to cheaper electric vehicles from Europe, advocates urge

Yahoo18-07-2025
TORONTO — The federal government has stopped the world's cheapest electric vehicles — made in China — from coming into Canada with a 100 per cent tariff, so advocates are pushing to make it easier for automakers to bring in cheaper ones from Europe.
'Right now, there is a blockage, saying that for safety reasons they cannot let these cars in,' said Daniel Breton, head of Electric Mobility Canada.
He's pushing to have the federal government rule that EVs deemed safe by European regulators don't need to be re-certified and modified for Canadian standards. The potentially costly process can be a barrier to bringing more compact and affordable EVs to the Canadian market, though demand might be the bigger hurdle.
'Right now Transport Canada is saying, well, we have to change the bumpers and we have to change the headlights and this and that for safety reasons, which, as far as I'm concerned is total B.S.,' said Breton.
'If the car is good enough to be driving on European roads, where you can drive much faster than here, don't come and tell me that they're not safe enough to be driven in Canada.'
Attempts to lower the barriers to cheaper vehicles comes as EV sales have been disrupted by the abrupt end of government rebate programs, while tariffs and U.S. moves to end EV supports and mandates are further destabilizing the market.
Breton said that allowing a more open flow of vehicles from Europe would fit in well with a push to strengthen and diversify trade ties with the region, as Prime Minister Mark Carney has said he hopes to do, but Transport Canada says it's not so simple.
"The certification requirements of other jurisdictions may not be sufficient to meet the safety needs of Canadian road users due to Canada's distinct driving environment," said spokesman Hicham Ayoun in an email.
He said Canadian test standards are better suited for the road infrastructure, speed limits and larger vehicle sizes found on Canadian roadways.
"Some European crash testing requirements are not as stringent as the Canadian regime due to differences in their driving environment."
While Breton said the idea that European testing is deficient is ridiculous, there is also the question of how much demand there would be for the vehicles.
As Transport Canada pointed out, Canadians like big cars and trucks. So much so that a few years ago the International Energy Agency found Canadian vehicles were the largest and second heaviest in the world, resulting in the worst fuel efficiency rating globally.
Automakers know that and could be hesitant to bring in smaller cars, said Sam Fiorani, vice-president of global vehicle forecasting at AutoForecast Solutions.
"European EVs are tailored for the European market, and those models don't convert very well to the U.S. and Canada," he said.
'The small cars that Canadians appreciate are on the fringes — there aren't too many of them."
But even if the potential market isn't much bigger than the cars themselves, Breton said there's still demand from anyone ranging from downtown drivers to households looking to make their second car an EV.
He pointed to the Smart EV his wife drives, which is no longer available in Canada.
"If today her vehicle was scrapped, she couldn't find anything on the market, except for the Fiat 500e. But that's it. That's not choice."
The Fiat is the cheapest EV available in Canada, with a base price of $42,290 (though the company is currently offering more than $4,000 in discounts) for an advertised 227-kilometre range. The Nissan Leaf is the nearest competitor, starting at a selling price of $44,596 for a 240-kilometre range.
But there are numerous other compact models that aren't available here.
Volkswagen sells its ID.4 in Canada, but not the ID.3 that can retail for some 20 per cent less, and Nissan doesn't sell its more affordable Micra model, while other European brands with compact EVs like Citroen, Opel and Peugeot don't sell in Canada at all.
Sales numbers for the available compact options aren't high, with Stellantis selling 1,275 of its Fiat 500e model last year, compared with more than 62,000 under its Ram brand and more than 40,000 for Jeep.
But the market also needs choice to grow and fewer barriers to entry, said Breton.
There does seem to be support for at least the idea of bringing cheaper EVs from Europe, according to a poll released last month from Clean Energy Canada.
The results from 2,585 Canadians showed 70 per cent were in favour of allowing European-approved EVs into Canada, with only 10 per cent against and the rest unsure.
The poll also showed a majority supported the other big lever the federal government has to making EVs cheaper, by reducing or doing away with tariffs on Chinese electric vehicles.
The results showed 53 per cent supported mirroring Europe's model that has put tariffs of up to 35 per cent on Chinese vehicles, an approach that balances protecting home industries with improving affordability.
Breton said he would also like to see a more nuanced approach to China than the 100 per cent tariff Canada has imposed, to better strike that balance and make it easier to transition to zero-emission vehicles.
"We want to make sure that Canadians have access to affordable electric cars."
This report by The Canadian Press was first published July 18, 2025.
Ian Bickis, The Canadian Press
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

1 Dividend King Down 17% Is My Top Value Pick
1 Dividend King Down 17% Is My Top Value Pick

Yahoo

time42 minutes ago

  • Yahoo

1 Dividend King Down 17% Is My Top Value Pick

Written by Jitendra Parashar at The Motley Fool Canada Dividend investing mainly requires patience, and sometimes, that patience gets tested. That's exactly what's happening with Canadian Natural Resources (TSX:CNQ) right now. Despite its consistent dividend growth and stable business model, the stock has slipped over 17% from its 52-week high. It's not an easy pill to swallow, but we must not forget that its long-term fundamentals still look solid. In fact, the company is producing record volumes, maintaining top-tier operational efficiency, and returning billions to shareholders. While the market might temporarily be reacting to short-term pressures, I see this correction as a long-term gift. In this article, I'll share why Canadian Natural Resources has become my top value pick right now and what makes it too attractive to ignore. My top value pick for income investors Being one of Canada's largest energy companies, Canadian Natural Resources operates in oil sands, natural gas, and offshore projects. Based in Calgary, it's known for long-life, low-decline assets that help it generate consistent cash flows. CNQ stock is currently trading at $43.14 per share with a market cap of $90.2 billion. On the brighter side, the recent decline in its stock has made its annualized dividend yield look more attractive, which currently stands at 5.5%. Now, despite CNQ stock being down over 17% from its 52-week high, the company hasn't shown any signs of weakness. In fact, Canadian Natural Resources reported record-breaking production in the first quarter of 2025, with its total output reaching 1.6 million barrels of oil equivalent per day. That included record quarterly synthetic crude oil production of 595,000 barrels per day with the help of high utilization at its oil sands operations and strategic upgrades completed last year. Financials remain strong The company's first-quarter financials were just as impressive as its operational results. During the quarter, its adjusted earnings came in at $2.4 billion or $1.16 per share. It also reported adjusted funds flow of $4.5 billion, showing its ability to consistently generate strong cash flow, even in a slightly weaker pricing environment. Higher production volumes, better cost control, and strong realized prices were some of the key factors that helped Canadian Natural Resources post strong financials last quarter. Its synthetic crude sold for over $95 per barrel during the quarter, which significantly lifted its margins. Meanwhile, lower energy costs and high utilization drove down its operating costs across segments, including a 12% year-over-year drop in its oil sands mining costs and a 20% drop in thermal in-situ operations. These factors make it even more attractive In recent years, Canadian Natural Resources has been stepping up production while finding better, more efficient ways to operate. The company recently reduced its 2025 capital budget by $100 million without cutting into its production plans. It's also seeing positive results from its Duvernay acquisition, where it expects better-than-planned production and cost savings this year. In addition, its oil sands mining operations are among the most cost-effective in the industry, with long-life assets making up the majority of production. In short, Canadian Natural Resources has the scale, cash flow, and operational discipline to ride through market cycles — while paying investors a growing stream of dividends. These dividends have been increased for 25 consecutive years. These factors make it my top value pick right now. The post 1 Dividend King Down 17% Is My Top Value Pick appeared first on The Motley Fool Canada. Should you invest $1,000 in Canadian Natural Resources right now? Before you buy stock in Canadian Natural Resources, consider this: The Motley Fool Stock Advisor Canada analyst team just identified what they believe are the Top Stocks for 2025 and Beyond for investors to buy now… and Canadian Natural Resources wasn't one of them. The Top Stocks that made the cut could potentially produce monster returns in the coming years. Consider MercadoLibre, which we first recommended on January 8, 2014 ... if you invested $1,000 in the 'eBay of Latin America' at the time of our recommendation, you'd have $24,927.94!* Stock Advisor Canada provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month – one from Canada and one from the U.S. The Stock Advisor Canada service has outperformed the return of S&P/TSX Composite Index by 30 percentage points since 2013*. See the Top Stocks * Returns as of 6/23/25 More reading 10 Stocks Every Canadian Should Own in 2025 3 Canadian Companies Powering the AI Revolution A Commonsense Cash Back Credit Card We Love Fool contributor Jitendra Parashar has positions in Canadian Natural Resources. The Motley Fool recommends Canadian Natural Resources. The Motley Fool has a disclosure policy. 2025 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Why Allegion Stock Soared on Thursday
Why Allegion Stock Soared on Thursday

Yahoo

timean hour ago

  • Yahoo

Why Allegion Stock Soared on Thursday

Key Points Allegion beat on both the top and bottom lines for the period. Its also raised its full-year guidance for 2025. 10 stocks we like better than Allegion › Security products specialist Allegion (NYSE: ALLE) was popular with investors on Thursday, following its release of an encouraging quarterly earnings report. The document pleased investors, as they bid the company's stock up by more than 6% on the day. This compared rather favorably to the benchmark S&P 500 (SNPINDEX: ^GSPC), which essentially flatlined across the trading session. Encouraging growth in key fundamentals Well before Thursday's market open, Ireland-based Allegion unveiled its second-quarter results. These showed that the company managed to boost revenue by nearly 6% year over year to slightly over $1.02 billion. On an organic basis -- i.e., excluding the impact of divestitures and acquisitions, plus foreign currency movements -- the top line also increased, by a little over 3%. Meanwhile, non-GAAP (generally accepted accounting principles) adjusted net income also saw improvement, rising by 4% to nearly $177 million, or $2.04 per share. That meant a double beat for Allegion, as analysts tracking the company were collectively estimating it would post $1 billion in revenue, and a per-share adjusted net earnings figure of $1.99. In its earnings release, Allegion flagged the North American nonresidential market as a particular growth driver. It said this business rose at a high-single-digit percentage rate, while price adjustments were a crucial factor in a 50-basis-point improvement in adjusted operating margin (to a shade under 30%). Guidance gets a boost Compounding the good news about the rising fundamentals, Allegion raised its guidance for both revenue and profitability for full-year 2025. It now believes its top line will increase by 6.5% to 7.5% compared to 2024, while adjusted earnings per share should land at $8.00 to $8.15. The average analyst projection for the latter number is only $7.85. Should you buy stock in Allegion right now? Before you buy stock in Allegion, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Allegion wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $634,627!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,046,799!* Now, it's worth noting Stock Advisor's total average return is 1,037% — a market-crushing outperformance compared to 182% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 21, 2025 Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Why Allegion Stock Soared on Thursday was originally published by The Motley Fool

Elizabeth Warren wants Trump to focus on 'the Epstein files', not crypto
Elizabeth Warren wants Trump to focus on 'the Epstein files', not crypto

Yahoo

timean hour ago

  • Yahoo

Elizabeth Warren wants Trump to focus on 'the Epstein files', not crypto

Elizabeth Warren wants Trump to focus on 'the Epstein files', not crypto originally appeared on TheStreet. Senator Elizabeth Warren (D-MA) has expressed dismay over President Donald Trump's growing participation in the cryptocurrency space. In her view, Trump is using the presidency to enrich himself through crypto, and he's doing it out in the open. On July 24, in an interview with Vanity Fair, the Massachusetts Democrat said: "Trump loves the tariff chaos, where country after country comes begging to Trump to lower their tariffs. That makes him feel really important and gives him more opportunities to extort people for crypto or Qatari jets or whatever else Trump wants." "He wants to keep the attention over there, instead of [on] the tariffs Trump doesn't want to talk about, the Epstein files, or how prices are going up in this country," Warren added. Warren says the President's actions indicate an abuse of public office and calls upon the President to address his previous relationship with Jeffrey Epstein rather than focusing on crypto policy. Trump signed the GENIUS Act on July 21, which aims to regulate stablecoins, which, unlike Bitcoin, are tethered to a traditional currency, such as the U.S. dollar, or a commodity. Warren pointed to the release of Trump-branded digital assets, such as a meme coin and a stablecoin, that she says have already made him hundreds of millions of also bashed the recent passage of crypto legislation, which would give the president authority over the regulators presiding over markets in which he has significant financial stakes. She said: "Donald Trump is the first president in American history to sign into law legislation to put himself in charge of the regulators who will determine the value of a large part of Donald Trump's own wealth." The 2008 financial crisis could be back Warren criticized the dismantling of the Department of Justice's crypto enforcement unit and what she called a retreat from SEC oversight, saying these moves benefit a select few people in the industry—possibly even the president. She added: "People who voted for Trump sent him to the White House because he promised lower costs on day one—not to turn the White House into a crypto cash machine." She even connected Trump's focus on crypto and public spat with Federal Reserve Chair Jerome Powell to shift people's focus elsewhere. Warren cautioned that if legislation pushed through by industry goes unchecked, economic calamity could follow, and urged viewers against a repeat of the deregulatory environment that existed before the 2008 financial crisis. Elizabeth Warren wants Trump to focus on 'the Epstein files', not crypto first appeared on TheStreet on Jul 25, 2025 This story was originally reported by TheStreet on Jul 25, 2025, where it first appeared. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store