Canadians sizzling on electrical autos however chilly on the power to get them charged, finds a brand new KPMG in Canada survey


Pole place up for grabs as automakers gear up EV plans amid potential new entrants

TORONTO, Feb. 16, 2022 /CNW/ – New ballot analysis by KPMG in Canada finds that Canadians stay obsessed with electrical autos with as many as 71 per cent saying they may think about an EV for his or her subsequent buy and half of all respondents saying their want to purchase an EV is bigger right this moment than it was a yr in the past.

That mentioned, shifting the needle on precise EV adoption hinges on addressing client issues on driving vary, battery efficiency in winter climate, recharging occasions, electrical grids, incentives, and the power to cost nearly anyplace at any time. The overwhelming majority (90 per cent) say they should do “much more analysis” to seek out the EV that is proper for them.

“We discovered that Canadians are able to make the change to electrical, emission-free autos however they need to see enhancements in infrastructure and belief battery expertise in our local weather earlier than they absolutely commit,” says Peter Hatges, Accomplice and Nationwide Sector Chief, Automotive, KPMG in Canada. “The mustang has left the barn. There is no such thing as a turning again from the electrification of the auto trade. As EV manufacturing revs up, the established automakers might want to pay shut consideration to client needs and wishes. Our ballot findings reveal model loyalty is not as sturdy as automakers may assume.”

Key survey findings:

  • 71 per cent of Canadians would think about buying a pure EV the following time they purchase a automobile. The findings are just like KPMG analysis performed final yr, wherein practically seven in 10 (68 per cent) who plan to purchase a brand new automobile throughout the subsequent 5 years mentioned it will possible be both a pure or hybrid EV.
    • 77 per cent in British Columbia and 74 per cent in Ontario would think about shopping for an EV the following time they’re available in the market for a automobile.
    • Over three-quarters of millennials are taking a look at EVs, with 77 per cent between 25-34 years previous and 76 per cent aged 35-44 years saying they’d think about an EV for his or her subsequent buy.
    • 76 per cent of two-car households would think about shopping for an EV the following time they make a purchase order.
    • 75 per cent of households with an annual earnings between $50,000 and $150,000 would think about shopping for an EV the following time they purchase a automobile.
  • 49 per cent usually tend to purchase an EV right this moment in comparison with a yr in the past and even pre-pandemic.
  • A 3rd (32 per cent) say their curiosity in shopping for a plug-in hybrid has climbed in comparison with a yr in the past.
  • Almost 4 in 5 (79 per cent) Canadians say they will not even think about an EV that does not have a driving vary of a minimum of 400 kilometres, up from 77 per cent in final yr’s survey.
  • 64 per cent consider EVs aren’t dependable in Canada’s chilly harsh winters, in comparison with 67 per cent a yr in the past. Apparently, ladies are extra skeptical than males (69 per cent vs. 60 per cent, respectively).
  • Simply over half (51 per cent) anticipate public charging stations to work shortly, saying they are not prepared to attend greater than 20 minutes.
  • One in 5 (18 per cent) say they would not wait any longer than 5 minutes for his or her EV to cost at a non-home-based charging station.
  • 90 per cent really feel they might want to do “much more analysis” into which EV is the best one for his or her wants based mostly on its vary, frequency of use, battery pack capability, and charging pace.

Trade Shakeup Looms, Battery Expertise Key

As mentioned within the accompanying KPMG in Canada report, the highest three manufacturers that potential Canadian EV consumers say they’re more than likely to buy are: Tesla, Toyota, (just about tied), with Honda, a distant third.

Almost 9 in 10 (89 per cent) Canadians name the auto sector “essential to Canada” and need motion taken to develop the nation’s EV manufacturing and defend the trade in opposition to exterior threats that may hurt Canadian exports.

But over three in 5 Canadians (62 per cent) say they would favor to purchase an EV from an organization specializing in battery-powered vehicles, none of which presently manufacture in Canada. Furthermore, practically half (49 per cent) would purchase an EV made by a significant expertise firm, a development that automotive executives are already anticipating. In line with KPMG Worldwide’s 2021 World Automotive Government Survey, a majority of auto trade executives anticipate Google, Apple, Amazon, Huawei and Samsung to enter the automobile market with their very own branded autos.

“Our ballot findings present that Canadians seem not solely keen to purchase EVs however prepared to embrace new expertise entrants,” says Tammy Brown, Accomplice and Nationwide Chief, Industrial Markets, KPMG in Canada. “The auto trade of tomorrow won’t resemble the one we all know right this moment or grew up with.

Canada has a historic probability to be a pacesetter if key choices are made now on the wanted infrastructure, energy technology, battery expertise and recycling funding, and key mineral provides. Already, the unique gear producers and elements makers face tough choices on their manufacturing strains. A serious shakeup is looming within the trade and the place Canada falls out has but to decided.”

Enhancements in battery expertise will probably be key, provides Mr. Hatges.

“Proper now, there’s loads of anxiousness round EV market share,” he says. “It is a race to see who can enhance battery expertise and seize a much bigger slice of the market.”

The KPMG in Canada report additionally highlights issues about client point-of-sale incentives, public infrastructure funding choices, insights on the place Canadians need and anticipate to cost their EVs, and upkeep professionals and cons. For instance, to help 20 million EVs on Canadian roads by 2035, Canada would wish as many as 4 occasions the variety of public cost factors as there are right this moment, relying on Canadians’ future preferences on charging at residence versus throughout their travels, and an estimated 36 per cent improve on {the electrical} grid to satisfy per capita power consumption from what it’s right this moment.

Different ballot insights:

  • Almost half (49 per cent) of Canadians would purchase an EV made by a significant expertise firm.
  • Over three in 5 (62 per cent) would slightly purchase a automobile from an organization that makes a speciality of battery-powered vehicles.
  • 71 per cent consider current authentic gear producers (OEMs) that make gasoline-powered engines will probably be profitable in constructing battery-powered vehicles.
  • Almost 9 in 10 (89 per cent) name the auto sector “essential to Canada” and need motion taken to develop the nation’s EV manufacturing and defend the trade in opposition to exterior threats that may hurt Canadian exports.
  • 84 per cent anticipate auto producers to spend money on a nationwide charging infrastructure.
  • 75 per cent additionally say they would favor to purchase an EV assembled in North America slightly than one imported from one other international area.
  • 82 per cent want a point-of-sale (POS) low cost on all EVs slightly than an EV tax credit score.
  • 87 per cent need governments to supply a POS client rebate / low cost on EV fast-charging gear.
  • 69 per cent consider inexperienced or local weather change initiatives are getting forward {of electrical} grid capability.
  • Almost three in 5 (59 per cent) fear EVs will overload the electrical grid and make EVs too costly to function, in comparison with 53 per cent a yr in the past.

KPMG in Canada surveyed 2,007 Canadians between Dec. 17, 2021 and Jan. 4, 2022, leveraging the AskingCanadians panel by Delvinia by their methodify on-line analysis automation platform.

About KPMG in Canada

KPMG LLP, a restricted legal responsibility partnership, is a full-service Audit, Tax and Advisory agency owned and operated by Canadians. For over 150 years, our professionals have supplied consulting, accounting, auditing, and tax companies to Canadians, inspiring confidence, empowering change, and driving innovation. Guided by our core values of Integrity, Excellence, Braveness, Collectively, For Higher, KPMG employs practically 8,000 individuals in over 40 areas throughout Canada, serving private- and public-sector shoppers. KPMG is persistently ranked one in every of Canada’s prime employers and the most effective locations to work within the nation.

The agency is established below the legal guidelines of Ontario and is a member of KPMG’s international group of impartial member corporations affiliated with KPMG Worldwide, a personal English firm restricted by assure. Every KPMG agency is a legally distinct and separate entity and describes itself as such. For extra info, see residence.kpmg/ca

SOURCE KPMG LLP

For additional info: For media inquiries or tables upon request: Caroline Van Hasselt, Company Communications, KPMG in Canada, 416-777-3288, [email protected]; Sonja Cloutier-Bosworth, Company CommunicationsKPMG in Canada, 416-777-8175, [email protected]



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