Canada Future of Transportation Market Report 2024
In the evolving landscape of Canadian transportation, the majority of Canadian households own at least one car, predominantly favouring gas-powered vehicles.
In the evolving landscape of Canadian transportation, the majority of Canadian households own at least one car, predominantly favouring gas-powered vehicles.
In the evolving landscape of Canadian transportation, the majority of Canadian households own at least one car, predominantly favouring gas-powered vehicles. Despite the gaining popularity of micromobility and ridesharing options, vehicle purchase intent remains high, influenced by age, gender and financial factors. However, despite governmental mandates, the promotion of electric vehicle (EV) adoption uncovers a gap in consumer readiness. Brands can bridge this gap by offering incentives, enhancing information campaigns and advancing EV technology and infrastructure. Addressing cost concerns related to EVs and hybrids is crucial to encourage wider consumer exploration of these options.
Notably, consumer skepticism towards self-driving cars, coupled with concerns about EV technology, costs and infrastructure, highlights the need for brands to focus on education, technological advancements and selective targeting. Addressing data privacy, repair costs and safety through robust data protection, affordable maintenance and convenience is essential.
Furthermore, consumers prioritize affordability, safety and sustainability in their vehicle purchasing decisions and successful brands will be those that tap into these considerations while addressing the specific concerns and preferences of different consumer segments.
While self-driving cars and electric vehicles may be hot topics, they are far from consumers' top of mind. Affordability and safety reign supreme and gas-guzzlers aren't going anywhere…yet.
Candace Baldassarre, Research Analyst