Tesla’s Model Y has been crowned the best-selling electric vehicle (EV) in Canada for the second quarter of 2023.
According to a report from S&P Global Mobility, 10.5 percent of all new light vehicle registrations in Canada in the second quarter of 2023 were ZEV (zero emissions vehicles). For reference, in Q1, 9.2 percent of all new light vehicle registrations in Canada were EVs. ZEVs now account for one out of every 10 new vehicles registered in Canada.
British Columbia is the provincial leader in ZEV adoption, with a 16.9 percent market share. Ontario, on the other hand, amounts to only a 7.2 percent market share.
Additionally, in British Columbia, Tesla Model Y led in EV registrations. It made up 41.7 percent of all ZEV registrations in the province.
In total, ZEVs are expected to occupy 13 percent of the market share by the end of 2023, 17 percent in 2024 and 23 percent by 2025, according to S&P Global Mobility.
The report also suggests that although Tesla currently dominates the market, this is changing, with its market share declining. The emergence of new EV models from other car companies and the ever-evolving competitive landscape of the automobile industry is a threat to Tesla.
The Tesla Model Y is eligible for a $5,000 federal iZEV incentive, which is also why the EV leads in Canadian adoption.
Learn more about the Q2 2023 Canadian Automotive Highlights here.
Image credit: Tesla
Source: S&P Global Mobility Via: TeslaNorth
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