EV Sales: Q3 2018 Results
This is an excerpt from the FleetCarma blog.
The Canadian electric vehicle market continues to grow at a sustained pace during 2018 third quarter.
Here are a few highlights:
- Nearly 35,000 plug-in electric vehicles have been sold in Canada by the end of September, an increase of 158% compared to the first nine months of last year.
- For Q3-2018, sales exceeded 13,000 EVs, a 166% increase over Q3-2017.
- At current rates, Canada will see more EVs sold across the country in 2018 than the previous three years, combined.
- The electric portion of new passenger car sales has risen to 8.3% for all of Canada.
- The Tesla Model 3 has retained top-spot as the most-sold EV in Q3-2018.
Take note also that Ontario sales remained strong in Q3 despite the loss of incentives. This could be expected as the incentives ran until the second week of September. We will see the incentive impact in Q4.
On a related note about Ontario, in all reasonable scenarios, we will hit the 2020 target in 2018, two years early. The target is that EV sales are equal to, or greater, than 5% of passenger car volume. Based on historical car sales volumes, 5% of passenger cars would equate to about 14,000 PEVs sold in Ontario for the entire 2018 calendar year.