Latest news with #IncentivesforZeroEmissionsVehicles
Business Wire
5 days ago
- Automotive
- Business Wire
VinFast's VF 8 Challenges Assumptions on EV Trade‑Offs
MARKHAM, Ontario--(BUSINESS WIRE)-- As Canada races toward its all‑electric 2035 goal, the VinFast VF 8 positions itself to win over drivers torn between ambition, affordability and practicality—showing that going green can mean gaining more, not giving up. The clock is ticking toward 2035, when Canada plans to require all new cars to run on electricity. Yet two-thirds of Canadians say this goal is unrealistic 1, with paused rebates and tariff disputes adding to the feeling that drivers shoulder the risks of this transition. Surveys suggest that interest in electric vehicles (EVs) persists, provided affordability and practicality come first. A June survey found that 45 percent of Canadians are considering an EV for their next purchase 2. And J.D. Power's 2025 Canada Electric Vehicle Consideration Study shows a steady 28 percent of new-vehicle shoppers 'very likely' or 'somewhat likely' to consider an EV, down just one point from 2024 despite the suspension of the federal Incentives for Zero Emissions Vehicles program. With early adopters largely accounted for, the next wave of buyers represents the mass market, often driven more by technology than ideology. The trend is prevalent particularly in younger generations: 54 percent of Millennials and 51 percent of Generation Z say their next car will likely be electric 3. Growing up with smartphones, they likely expect vehicles that update overnight, store preferences and integrate features like voice-controlled heated steering wheels. Of course, concerns persist. For drivers without home charging, 74 % say reliable public fast-charging is a deciding factor in any future EV purchase 4. Price is another hurdle: the average EV in Canada costs about C$73,000, compared to C$66,000 for a new ICE vehicle, according to the latest available Canadian Black Book data 5. An Upgrade Without Compromise The VF 8, a mid-size SUV from EV maker VinFast—the top-selling car brand in Vietnam in 2024—offers an alternative. Many Canadians still fear that going electric requires compromise. The VF 8 aims to counter that perception by combining range, performance and everyday usability at a lower price. Starting at C$53,600, roughly C$20,000 below the Canadian EV average, it delivers up to 412 kilometers per charge, 402 horsepower and accelerates from 0 to 100 km/h in 5.5 seconds. Its 15.6-inch touchscreen integrates entertainment, Alexa-powered voice commands and direct Spotify streaming. Owners can pre-condition the cabin or schedule charging via an app. Safety features, including 11 airbags, a head-up display and an automatic emergency alert system, come standard. Charging access is integrated into ownership. VinFast's app connects drivers to more than 100,000 public charging stations across North America and manages service appointments and roadside assistance, a level of coverage the company calls the most comprehensive among EV brands. As policy debates continue, the shift to EVs may be driven less by mandates than by vehicles like the VF 8 that deliver clear value. Many buyers arrive expecting compromises but leave with a car priced below the EV average, equipped with familiar technology and meeting everyday needs for comfort and peace of mind. That change in expectation could matter more than any government deadline.
Yahoo
29-05-2025
- Automotive
- Yahoo
EV Purchase Consideration Holds Steady in Canada but Brand Preferences Shift Significantly, J.D. Power Finds
Vehicle Shoppers in Canada Less Than Half as Likely to Consider an EV Than U.S. Shoppers TORONTO, May 29, 2025--(BUSINESS WIRE)--The percentage of new-vehicle shoppers in Canada who say they are "very likely" or "somewhat likely" to consider an electric vehicle (EV) for their next purchase has held steady at 28% year over year, down a single percentage point from 2024, even as the country's Incentives for Zero Emissions Vehicles (iZEV) rebate program has been paused, according to the J.D. Power 2025 Canada Electric Vehicle Consideration (EVC) Study,SM released today. However, the overall stability in consideration hides some significant shifts in underlying market dynamics. Nearly half (42%) of new-vehicle shoppers who overall say they are likely to consider an EV, also say that the pause in the $5,000 per vehicle incentive program would negatively affect their likelihood to shop for an EV. What's more, in the province of Quebec where EV incentives were temporarily paused in February and March 2025, consideration declined 8 percentage points while increasing 2 percentage points in the rest of Canada. Additionally, there has been a significant shakeup in the lineup of the most frequently considered EV brands. "Despite a great deal of volatility in the EV marketplace, overall consumer interest in EVs at a topline level is largely unchanged this year," said J.D. Ney, director of the automotive practice at J.D. Power Canada. "What is noteworthy, though, is the reaction to the incentive landscape, and perhaps more importantly for manufacturers, the shift in consumer interest toward traditional brands. Hyundai, Kia, Toyota, Ford and Chevrolet are now the top five most-considered brands among new-vehicle shoppers who say they are 'very likely' or 'somewhat likely' to consider an EV. Tesla, which had been among the top two EV brands considered in the study for the past four years, has fallen to eighth place among likely EV shoppers—down 16 percentage points year over year—while among all other brands combined the average gain is half a percentage point." Following are key findings of the 2025 study: EV consideration steady, but still less than half that of U.S. market: The percentage of new-vehicle shoppers in Canada who say they are "very likely" or "somewhat likely" to consider an EV for their next vehicle purchase is 28%, which is down from 29% a year ago and down from 34% in 2023. In the United States,1 by contrast, the number of shoppers who say they are either "very likely" or "somewhat likely" to consider an EV is 59% this year, unchanged from 2024. Shuffle in the ranks of most-considered EV brands: The top five most-considered EV brands among likely EV buyers in this year's study are Hyundai, Kia, Toyota, Ford and Chevrolet. Tesla falls six positions to eighth place among those who say they are "very likely" or "somewhat likely" to consider an EV. iZEV program pause weighs on significant number of EV shoppers: When asked whether the iZEV program—which offered a $5,000 rebate on the purchase of an EV and which was indefinitely paused in January—has affected their EV purchase consideration, 42% of new-vehicle shoppers who were likely to consider an EV say it had a negative effect on their decision, while 28% said the pause was more or less neutral in terms of the effect on their decision. Widespread pessimism that Canada will meet 2035 vehicle emissions target: The Canadian government committed to achieve 100% zero-emission vehicle sales by 2035 for all new light-duty vehicles. The majority (75%) of new-vehicle shoppers say they are "not at all confident" or "not very confident" that the target will be achieved. The Canada Electric Vehicle Consideration (EVC) Study is an annual industry benchmark for gauging EV shopper consideration. Study content includes overall EV consideration by geography; demographics; vehicle experience and use; lifestyle; and psychographics. It also includes model-level consideration details such as cross-shopping and "why buy" findings and analysis of reasons for EV rejection. This year's study measured responses from 3,979 new-vehicle shoppers and was fielded in March-April 2025. For more information about the Canada Electric Vehicle Consideration (EVC) Study, visit See the online press release at About J.D. Power J.D. Power is a global leader in consumer insights, advisory services and data and analytics. A pioneer in the use of big data, artificial intelligence (AI) and algorithmic modelling capabilities to understand consumer behaviour, J.D. Power has been delivering incisive industry intelligence on customer interactions with brands and products for more than 50 years. The world's leading businesses across major industries rely on J.D. Power to guide their customer-facing strategies. J.D. Power has offices in North America, Europe and Asia Pacific. To learn more about the company's business offerings, visit About J.D. Power and Advertising/Promotional Rules: ____________________ 1 J.D. Power 2025 U.S. Electric Vehicle Consideration (EVC) StudySM View source version on Contacts Media Relations ContactsGal Wilder, NATIONAL PR; 416-602-4092; gwilder@ Geno Effler, J.D. Power; West Coast; 714-621-6224;
Business Wire
29-05-2025
- Automotive
- Business Wire
EV Purchase Consideration Holds Steady in Canada but Brand Preferences Shift Significantly, J.D. Power Finds
TORONTO--(BUSINESS WIRE)--The percentage of new-vehicle shoppers in Canada who say they are 'very likely' or 'somewhat likely' to consider an electric vehicle (EV) for their next purchase has held steady at 28% year over year, down a single percentage point from 2024, even as the country's Incentives for Zero Emissions Vehicles (iZEV) rebate program has been paused, according to the J.D. Power 2025 Canada Electric Vehicle Consideration (EVC) Study, SM released today. However, the overall stability in consideration hides some significant shifts in underlying market dynamics. Nearly half (42%) of new-vehicle shoppers who overall say they are likely to consider an EV, also say that the pause in the $5,000 per vehicle incentive program would negatively affect their likelihood to shop for an EV. What's more, in the province of Quebec where EV incentives were temporarily paused in February and March 2025, consideration declined 8 percentage points while increasing 2 percentage points in the rest of Canada. Additionally, there has been a significant shakeup in the lineup of the most frequently considered EV brands. 'Despite a great deal of volatility in the EV marketplace, overall consumer interest in EVs at a topline level is largely unchanged this year,' said J.D. Ney, director of the automotive practice at J.D. Power Canada. "What is noteworthy, though, is the reaction to the incentive landscape, and perhaps more importantly for manufacturers, the shift in consumer interest toward traditional brands. Hyundai, Kia, Toyota, Ford and Chevrolet are now the top five most-considered brands among new-vehicle shoppers who say they are 'very likely' or 'somewhat likely' to consider an EV. Tesla, which had been among the top two EV brands considered in the study for the past four years, has fallen to eighth place among likely EV shoppers—down 16 percentage points year over year—while among all other brands combined the average gain is half a percentage point.' Following are key findings of the 2025 study: EV consideration steady, but still less than half that of U.S. market: The percentage of new-vehicle shoppers in Canada who say they are 'very likely' or 'somewhat likely' to consider an EV for their next vehicle purchase is 28%, which is down from 29% a year ago and down from 34% in 2023. In the United States, 1 by contrast, the number of shoppers who say they are either 'very likely' or 'somewhat likely' to consider an EV is 59% this year, unchanged from 2024. Shuffle in the ranks of most-considered EV brands: The top five most-considered EV brands among likely EV buyers in this year's study are Hyundai, Kia, Toyota, Ford and Chevrolet. Tesla falls six positions to eighth place among those who say they are 'very likely' or 'somewhat likely' to consider an EV. iZEV program pause weighs on significant number of EV shoppers: When asked whether the iZEV program—which offered a $5,000 rebate on the purchase of an EV and which was indefinitely paused in January—has affected their EV purchase consideration, 42% of new-vehicle shoppers who were likely to consider an EV say it had a negative effect on their decision, while 28% said the pause was more or less neutral in terms of the effect on their decision. Widespread pessimism that Canada will meet 2035 vehicle emissions target: The Canadian government committed to achieve 100% zero-emission vehicle sales by 2035 for all new light-duty vehicles. The majority (75%) of new-vehicle shoppers say they are 'not at all confident' or 'not very confident' that the target will be achieved. The Canada Electric Vehicle Consideration (EVC) Study is an annual industry benchmark for gauging EV shopper consideration. Study content includes overall EV consideration by geography; demographics; vehicle experience and use; lifestyle; and psychographics. It also includes model-level consideration details such as cross-shopping and 'why buy' findings and analysis of reasons for EV rejection. This year's study measured responses from 3,979 new-vehicle shoppers and was fielded in March-April 2025. For more information about the Canada Electric Vehicle Consideration (EVC) Study, visit See the online press release at About J.D. Power J.D. Power is a global leader in consumer insights, advisory services and data and analytics. A pioneer in the use of big data, artificial intelligence (AI) and algorithmic modelling capabilities to understand consumer behaviour, J.D. Power has been delivering incisive industry intelligence on customer interactions with brands and products for more than 50 years. The world's leading businesses across major industries rely on J.D. Power to guide their customer-facing strategies. J.D. Power has offices in North America, Europe and Asia Pacific. To learn more about the company's business offerings, visit
