Electric Vehicle Sales In Canada Fell Nearly 40% In Second Quarter
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Electric vehicle sales in Canada fell nearly 40% in Q2 compared to last year, with new registrations dropping 39.2% and plug-in hybrids down 2.2%. This decline occurred despite overall vehicle sales reaching a five-year high. The drop is attributed to the removal of government rebates, particularly in Quebec and British Columbia, which accounted for 60% of sales. Additionally, Prime Minister Carney announced a suspension of the federal electric vehicle mandate and initiated a review of the policy. TSLA stock has also seen a 9% decline this year.
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