Only days ago, the provincial government introduced legislation that will require automakers to meet an escalating annual percentage of new light-duty zero emission vehicle sales and leases.
Tied to the mandated targets is a significant penalty facing automakers for every vehicle sold under the ratio. So far in 2023, electric vehicles make up nearly 21 per cent of all new light-duty passenger vehicles sold in B.C. — the highest percentage for any province or territory in Canada. So, over the short-term, achieving the initial target appears well within reach.
Affordability: The average price of a new vehicle in Canada has reached $66,000 while the average cost of a new electric vehicle is approaching $73,000. Even with point of purchase incentives on new zero emission vehicles, the present price point remains out of reach for many potential customers, particularly low-income British Columbians.