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Toyota and Tesla Have Monopolized the Hybrid and the BEV Markets, Respectively, While Hyundai-Kia Has Offerings Across All xEV Types
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The automotive industry is rapidly evolving in terms of technology as well as its ability to tackle environmental issues. Electric vehicles (EVs) were introduced as a clean energy initiative as they are low- or zero-emission vehicles; now, however, they have become an integral part of OEMs’ business strategies. Automakers are creating separate EV business units to prepare themselves for the expected boom in future. This surge in demand will create a massive need for charging infrastructure as well as safety regulations and standards. Although the Canadian EV market has been recording steady growth, its full potential is not being tapped due to a lack of incentives from the government (national as well as provincial). The government has declared ambitious sales targets all the way until 2040, and it is determined to make the country a leader in terms of green mobility; however, this is yet to be reflected in the policies of several provinces. This Frost & Sullivan research service offers a detailed analysis of the Canadian EV market; annual (2019) as well as historical (2010-2019) sales forecasts are examined. PEVs and HEVs have separate sections, and data is compiled in the form of: • Historic sales, market penetration, and year-over-year (YoY) growth from 2010 to 2019 • Market share by xEV type and sales share of each xEV type for the top 5 highest-selling OEMs since 2010 • Top 10 models for 2019 • Monthly sales and sales comparison for 2018 versus 2019 • Charging station infrastructure data (including number of stations, network distribution trends across Canada, key service providers, and opportunities for partnerships) • Detailed Federal and provincial incentives The study concludes with key findings, observations, and growth opportunities to act on.
Key Issues Addressed
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