The federal iZEV program offering a rebate on purchase of an eligible electric or plug-in hybrid vehicle has had a record first year in Canada. Applications have more than doubled in the first half of 2024, compared with the first six months of 2023.
While a slowdown in the growth of sales of EVs is being felt in some parts of the world, it doesn't seem to be happening in Canada just yet.
Canada-wide, since the beginning of the year, dealers have made 95,775 requests for consumer rebates; the same period in 2023 saw 45,669 requests. In dollar terms, government assistance rose from $221.6 million to $464.5 million year-over-year.
In June, 16,739 applications were made, down from the record 19,909 applications made in May.
See also: Canada’s iZEV Program Doled Out $712.6 million in EV Discounts in 2023
Tesla, still number one
Unsurprisingly, Tesla is the brand that appears most often in rebate requests, with 23,630, ahead of Hyundai with 12,450, and Ford with 9,815. Two brands saw an increase between May and June: Ford (1,921 to 1,944) and Chevrolet (972 to 1,189).
The most popular model for buyers seeking a rebate? The Tesla Model Y, with 16,987 claims. As for plug-in hybrids, the Mitsubishi Outlander continues to dominate, with 6,187 rebate claims so far this year, ahead of the Ford Escape PHEV and Toyota RAV4 Prime.
Quebec leading the way
Across the country in June, the highest number of rebate requests was made in Quebec, which accounted for 56 percent of all requests. Ontario and British Columbia each accounted for some 18 percent of requests this past June.
It will be interesting to follow the progression until the end of the year and the beginning of 2025, considering that rebates will be reduced in Quebec as of January 1, 2025. We can expect a stampede of requests for iZEV program in that province, followed by a sharp drop-off.