INDUSTRY INSIDER
BUYING AN EV JUST GOT EVEN SWEETER
Interest in electric vehicles (EV) is on the rise in Canada, and specifically here in British Columbia as consumers continue to look for cleaner-emission vehicles for their next new car purchase.
Manufacturers are also taking note, with new technology being developed for the EV market, not to mention new makes and models debuting on dealership floors. However, as with many consumer goods, advanced technology comes at a price, and in the auto world consumers have struggled to make green choices at the expense of more greenbacks.
In B.C., we are fortunate to have excellent programs such as the B.C. Scrap-It Program and the Clean Energy Vehicle (CEVforBC) Program, giving consumers access to significant savings when opting to purchase an EV. How much, you ask? A lot. Just last week, the B.C. Scrap-It Program announced a new level of incentive, where consumers purchasing a qualifying new electric vehicle can now receive a $6,000 incentive. The current program offering $3,000 will continue to be available to consumers who scrap their older vehicle and purchase a qualifying used electric vehicle. For details about new and used qualifying electric vehicles, visit scrapit.ca.
The new $6,000 incentive is a multi-year program, aiming to garner 500 transactions in its inaugural year.
Scrap-It’s voluntary early retirement vehicle program is designed to reduce greenhouse gas and smog exhaust emissions across the province. All scrapped vehicles and their components are permanently and properly recycled. To date, the Scrap-It Program has scrapped more than 40,000 older, polluting vehicles across the province.
The other incentive program, CEVforBC, is administered by the New Car Dealers Association of B.C. Thanks to significant government funding, the program provides up to $5,000 in incentives to B.C. residents who purchase or lease an eligible new battery electric or plug-in hybrid electric vehicle.
When the CEVforBC program is combined with the Scrap-It Program, British Columbians are able to access up to $11,000 in savings, and $12,000 if you purchase a new fuelcell vehicle. The provincial government announced last week that increased funding would go toward the program to ensure British Columbians are able to continue to access these cash incentives.
Through ongoing government support, over time we will see more and more consumers opt to purchase an EV, resulting in a more sustainable and environmentally friendly province.
Statistics from DesRosiers Automotive Consultants show the average vehicle in B.C. is 11.08 years old. According to research from the University of Michigan, vehicles more than a decade old produce an average of 16 per cent more emissions than newer models. Understandably, helping B.C. turn over its fleet could lead to huge emissions reductions.
If you’d like to learn more about EVs and the incentives available, or even test drive one, be sure to visit the Vancouver International Auto Show, happening March 28 – April 2 at the Vancouver Convention Centre. Tickets are on sale now and are available at vancouverinternationalautoshow.com
Blair Qualey is president and CEO of the New Car Dealers Association of BC. You can
email him at bqualey@newcardealers.ca.