Despite the many exotic cars displayed at the Toronto International Auto Show this month, visitors keep wanting to see more environmentally friendly vehicles released by auto manufacturers, say exhibitors at the show.
This year’s featured vehicle, the Bugatti’s La Voiture Noire, was the show’s highlight as the most expensive and exclusive car, but electric vehicles are starting to draw attention at Toronto’s auto show that ran at the Metro Convention Centre from Feb. 12 to 21.
“Lots of manufacturers are starting to invest in the electric movement,” a Kia specialist said.
Reasons why electric cars are turning consumer’s heads include climate change concerns, money savings, and the subsidy provided by the federal and some provincial government for these type of vehicles.
The subsidy from the federal government is worth $5,000 for hybrid vehicles and $2,500 for electric vehicles. Provincial subsidies include up to $5,000 in British Columbia and $8,000 subsidy in Québec government.
In the case of Ontario, a $14,000 subsidy was cancelled after Premier Doug Ford won the 2018 elections. Ford cancelled this subsidy because that money was going to people who could already afford expensive cars, the premier announced.
After the Ontario government cancelled the subsidy, electric vehicle car sales dropped more than 55 per cent, according to Electric Mobility Canada, an organization that promotes electric vehicles.
Climate change has also affected electric vehicle sales, according to the government of Canada. By 2025 the government has committed to have 825,000 zero-emission vehicles on the road.
Due to the interest that consumers have in electric cars, manufacturers are trying to innovate the automobile industry.
“The future of electric vehicles is bright,” said one exhibitor at the show. Although only 3.5 per cent of registered vehicles in Canada are electric, this is expected to rise to 35 per cent of new car sales by 2040.