this post was submitted on 29 Aug 2024
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EV prices need to drop by one third if Canada wants to hit sales targets, says gov't report (www.ctvnews.ca)
submitted 1 month ago by [email protected] to c/[email protected]
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Unless policies or technologies change, the ownership cost of electric vehicles (EVs) needs to decrease by 31 per cent if Canada to wants to reach its sales target of 60 per cent EVs by 2030, according to a new report released Thursday by Parliamentary Budget Officer Yves Giroux.

Last December, the federal government unveiled its Electric Vehicle Availability Standard that outlined zero-emission vehicle sales targets for automakers. The standard requires all new light-duty sales in Canada to be electric or plug-in hybrid by 2035. There are also interim targets of at least 20 per cent of all sales being EVs by 2026 and 60 per cent by 2030.

Those federal government targets come as growth forecasts for auto companies have plateaued and concerns about charging infrastructure persist. The price of EVs has also pushed the cars out of reach for many consumers. According to the Canadian Black Book, the average cost of an EV was $73,000 in 2023.

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[–] [email protected] 4 points 1 month ago* (last edited 1 month ago) (1 children)

The article literally states BYD outsold Nissan worldwide this year

[–] [email protected] -1 points 1 month ago (1 children)

Can you not read past a headline?

BYD outsold Nissan worldwide in number of units, but that includes BYD's China sales which make up almost all of it's sales.

If you eliminate sales in China, BYD sold only 242k vehicles globally, and Nissan sold around 2.4 million.

BYD is NOT a major brand outside of China.

That's like saying China Railway Group is a major international construction company because it's the worlds largest by revenue, despite essentially operating only in China.

[–] [email protected] 2 points 1 month ago* (last edited 1 month ago) (1 children)

Did anyone complain about wanting to buy a railway but there's not enough choice out there for the consumer?

[–] [email protected] 2 points 1 month ago

Yes... It's quite common for companies to bid internationally for such projects. They tried and failed so badly they had to be replaced on a multi billion dollar European project a few years back.