Automotive
Canada should get out of EVs before bubble bursts
From the Fraser Institute
A recent article in the The Daily Mail asks, “Is the global EV bubble bursting?” The article then answers the question by looking at electric vehicle (EV) sales figures for six major manufacturers. Sales are down across the industry—Tesla, down 20 per cent in the first quarter this year compared to the same time last year; China’s EV manufacturer, BYD, down 43 per cent; GM down 20.5 per cent; and Volkswagen down 3.3 per cent. Honda saw an anemic uptick of 0.2 per cent. Only BMW experienced a substantial increase in EV sales, up 41 per cent. Not surprisingly, share prices have also dropped across the industry.
An Associated Press article shines more light on EV sales, which in the United States grew only 3.3 per cent in the first quarter of this year, a tiny fraction of the 47 per cent growth that fuelled record sales. The EV share of total U.S. sales fell to 7.15 per cent in the first quarter, down from 7.6 per cent last year. The slowdown, led by Tesla, “confirms automakers’ fears that they moved too quickly to pursue EV buyers.”
In other EV news, Ford has announced it will cut back on EV battery orders, signalling that the company anticipates less EV sales in the future. That would seem to be a good thing for Ford shareholders, as the company also admitted it’s lost $100,000 on every EV it sold in the first quarter of 2024. Ford expects to lose some $5.5 billion from EV sales this year.
So what does it all mean?
Countries that adopted EV sales mandates earlier than Canada are already finding their EV sales targets moving out of reach. In the United Kingdom, which has a 2024 EV sales target of 22 per cent, according to the Society of Motor Manufacturers and Traders, the share of the new car market held by pure battery EVs will be only 19.8 per cent by the end of 2024. The U.K.’s EV sales targets, like Canada’s, require 100 per cent of new vehicle sales to be electric by 2035.
And the rest of Europe is also falling short of EV transition mandates. Forbes reports that current sales of EVs in Europe have flattened at just over 2 million a year, essentially because the continent has run out of early adopters and corporate purchases. Forbes also observes that “other leading market forecasters still expect sales to explode and reach close to 9 million in Europe by 2030,” but that this rate of growth won’t be enough to let the EU and Britain reach target goals of EVs achieving close to an 80 per cent market share.
Meanwhile, the Trudeau government clings to its mandated EV transition, gambling with taxpayer money hand over fist as it pours more than $44 billion into various EV and battery manufacturing operations. And as Andrew Coyne observes in the Globe and Mail, it’s worse than that, as “all of that money will be borrowed, interest costs should also be included. The PBO estimates these at $6.6-billion. All told, that’s $50-billion of other people’s money. For three factories.”
Ottawa’s EV transition policy is deeply misguided, and already shows signs of incipient failure. And likely more failed taxpayer “investments” lie ahead. A smart government would tap the brakes on its EV transition policy. The bubble is growing.
Author:
Automotive
Liberals Have Cut Canada’s Electric Vehicle Subsidies, Now It’s Time to Kill the 2035 Mandate
Former Liberal MP Dan McTeague calls on Mark Carney and all other leadership candidates to kill Trudeau’s electric car mandate.
President of Canadians for Affordable Energy (CAE) and former Liberal MP Dan McTeague says, “It’s good that the Trudeau government are ending their taxpayer funded electric vehicle subsidy, but it’s time to take the most important step of all and kill the government’s mandate that all vehicles bought in Canada be battery powered by 2035.”
As of January 10th, Transport Canada announced that it “paused” its financial incentive to purchase electric vehicles which had provided up to $5,000 of taxpayers money to anyone who purchases an electric vehicle. Quebec ended its $7,000 subsidy last February. However, the government policy requiring that every car sold in Canada after 2035 be electric remains in force.
“Even with these giveaways in place, it was a stretch for hard working Canadians to afford an EV,” said McTeague. “We at CAE are happy for Canadian taxpayers that the program is coming to an end. But this move must be followed up by abolishing the mandates on unaffordable electric vehicles once and for all.”
“My hope is that each and every Liberal Leadership candidate stands up and acknowledges that mandating that all new cars in Canada be electric by 2035 is wrong and that that policy needs to be scrapped,” added McTeague.
Dan McTeague served in Parliament as a Liberal MP for 18 years, and is now Executive Director of Canadians for Affordable Energy. CAE counts on it’s 60,000 supporters nationwide, you can find more information here: https://www.affordableenergy.ca/
For more information contact:
Dan McTeague
647-220-0114
[email protected]
Support Dan’s Work to Keep Canadian Energy Affordable!
Canadians for Affordable Energy is run by Dan McTeague, former MP and founder of Gas Wizard. We stand up and fight for more affordable energy.
Alberta
Your towing rights! AMA unveils measures to help fight predatory towing
From the Alberta Motor Association
Know Before the Tow: Towing Rights in Alberta
Predatory towing is a growing concern in major cities across the province. The Alberta Motor
Association (AMA), in partnership with the Calgary Police Service and Calgary Fire Department,
wants to ensure Albertans are not only aware of this emerging issue but also know how to stop
it.
Today, AMA launches Know Before the Tow—a new, provincewide awareness campaign that
empowers Albertans with the knowledge needed to stay confident and in control when faced with
a tow scam. The campaign features a list of five key towing rights that every Alberta driver should
know:
1. You have the right to refuse unsolicited towing services.
2. You have the right to choose who tows your vehicle, and where, unless
otherwise directed by police.
3. You have the right to access your vehicle to retrieve personal items during a
storage facility’s business hours.
4. You have the right to ask if the towing company receives a kickback for taking
your vehicle to a particular storage facility or repair shop.
5. You have the right to a quote prior to service, and an itemized invoice prior to
making payment.
“Being in a collision or broken down at the roadside is stressful enough; the last thing any Albertan
needs is high pressure from an unscrupulous tower,” says Jeff Kasbrick, Vice-President,
Advocacy and Operations, AMA. “These towing rights are clear and remind every Albertan that
they’re in the driver’s seat when it comes to who they choose to tow their vehicle.”
Edmonton and Calgary in particular are seeing increasing reports of predatory towing. Unethical
operators will arrive at a collision or breakdown scene uninvited, create a false sense of urgency
to remove the vehicle, and ultimately leave drivers facing huge fees.
Starting today, Albertans can visit ama.ab.ca/KnowBeforeTheTow to download a digital copy of
their towing rights, helping them feel confident if faced with a tow scam. And soon, all AMA centres
will offer free print versions, which are small enough to tuck in a glovebox.
“Alberta’s towing industry is still highly reputable, with the vast majority of operators committed
to fair and professional service. In fact, AMA and our roadside assistance network is proud to
represent 80% of all private-passenger tows in the province, so our members can be confident
that we’ll always protect them—just as we have for nearly 100 years,” says Kasbrick.
“By knowing your rights and choosing trusted providers like AMA, you can avoid unnecessary
stress, costs, and uncertainty. Because the road to recovery after a collision shouldn’t have to
include fighting for your vehicle.”
Sergeant Brad Norman, Calgary Police Service Traffic Section, says law enforcement continues
to work diligently with first responders and community partners like AMA to put the brakes on
predatory towers, who “are showing up at collision sites and pressuring overwhelmed and
frightened victims into paying high towing rates.”
“Our priority is to ensure the safety of collision victims, the public, and first responders at
collision sites. Part of this effort is educating motorists about their rights so that they Know
Before the Tow that they can say no to unsolicited towing services and choose a reputable
tower of their choice instead,” says Norman. “No one deserves to be taken advantage of after
being involved in a collision.”
To learn more, and to view an expanded version of Alberta towing rights, visit
ama.ab.ca/KnowBeforeTheTow
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