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Tuesday, February 11, 2025

Electric Vehicles: Why Ending Incentives Won’t Stop Consumers from Purchasing a Second Car

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Consumer interest in electric vehicles remains high despite recent changes to incentives. At the Montreal Auto Show, attendees explored various brands, with many considering additional EV purchases. Enthusiasts like Benoit Simard, who enjoys significant savings from his Hyundai Kona, expressed a preference for fully electric vehicles. While manufacturers introduce temporary discounts following federal incentive cuts, concerns about vehicle pricing persist among attendees, highlighting a strong yet challenged market for electric vehicles.

Consumer Confidence in Electric Vehicles Remains Strong

Amid recent changes to provincial and federal incentives for electric vehicle (EV) purchases, consumer interest in this innovative technology remains unwavering. In fact, many individuals are even contemplating the acquisition of a second electric vehicle as soon as the opportunity arises.

This enthusiasm was palpable at the Montreal Auto Show, where attendees eagerly explored various brands and engaged with representatives to gain insights into specific models and pricing. One such enthusiast, Benoit Simard, was on the lookout for his next electric car.

Positive Experiences Drive EV Purchases

Residing in Terrebonne, Simard has developed a strong affection for his first electric vehicle, which has allowed him to achieve substantial savings. “It’s worth it, and I’ve saved a lot of money on gas,” stated the proud owner of a Hyundai Kona. “My gas car just sits in the yard.”

Regardless of incentives, Simard is resolute about his next vehicle being fully electric. “It will be 100% electric. I no longer have to deal with oil changes or spark plugs. In the long run, it’s a win-win situation.”

Simard expressed a desire for the Chinese manufacturer BYD (Build Your Dreams) to enter the Canadian market with competitively priced vehicles. “The government’s 100% surcharge makes it challenging, but I believe they will eventually find a way to sell here. However, it might negatively impact other manufacturers.”

Following the unexpected federal government announcement that eliminated a $5,000 incentive for electric vehicle buyers, several manufacturers, including Hyundai, Volkswagen, and General Motors, have opted to offer temporary discounts. However, others have yet to follow suit, and if they do, it may only be for a limited time, according to the Quebec Automobile Dealers Corporation (CCAQ).

CEO Ian P. Sam Yue Chi anticipates a significant sales decline in February and March as dealers work to clear their inventory of electric vehicles.

Meanwhile, young car enthusiasts like Félix Giroux explored the Auto Show with their families. The 15-year-old enjoyed discovering luxury and sports cars, even taking a seat in a $160,000 model, despite not holding a driver’s license. “When we come here, it allows us to dream a little,” his father Benoit shared with pride.

Though the younger generation is leaning toward electric vehicles, Félix remains drawn to the allure of traditional gas engines. “They have potential, and the cars are beautiful,” he noted. “However, I enjoy the sound and power of gas engines.”

Mechanical students Émile Ducharme and Samuel Guerrero were captivated by the intricately modified cars displayed at the event. “The attention to detail in these vehicles is impressive,” Émile remarked. At the same time, Samuel expressed his admiration for a modified BMW, stating, “It would be one of my dreams to own one.”

As the Auto Show unfolded, Luc Poirier’s collection of luxury cars attracted considerable attention, particularly from Ferrari enthusiasts. Visitors like Mathieu Landry were not only drawn to the stunning cars but also to Poirier’s entrepreneurial journey. “I’ve always loved Ferraris,” he said, noting his knowledge of various models and their prices. “Cars are the cherry on the sundae of his career.”

Concerns about vehicle pricing were evident among attendees. Daniel Picard, who drove two hours to attend the event at the Palais des congrès, expressed his frustration. “I would like to change my Ford Ranger, but they are expensive. They used to be more accessible.” He reflected on his first Ranger, purchased for $10,000, which now has a price tag of $60,000. “If I want another one, I will look into used options.”

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