Current Data: One in six new vehicles registered in Canada in fourth quarter, 2024 electric, says S&P Global report

Toronto, Ontario — According to a recent report from S&P Global, zero-emission vehicles accounted for one in six new vehicles registered in Canada in the fourth quarter of 2024.

Notably, according to S&P Global’s Canadian Electric Vehicle Industry Insights: Q4 2024, ZEV market share was 15.4 percent in 2024, up from 10.7 percent in 2023.

Other highlights from the report include:

• Battery electric vehicle market share increased to 11.4 percent, with volume increasing by 41.8 percent.
• Quebec had the highest rate of EV adoption of all provinces, with ZEVs accounting for 32.9 percent of all new registrations.
• Quebec also leads in overall ZEV volume in Canada.

Furthermore, the report notes that in Q4 2024, the national penetration rate for ZEVs climbed to 18.9 percent, up from 16.5 percent in Q3 2024.

However, despite these increases, in 2025, BEV penetration for January dropped by 48.3 percent nationally when compared to December 2024.

The study concludes that with current global market pressures, “ZEV adoption across Canada reveals significant disparities in growth rates, market contributions and the effectiveness of provincial policies.”

To read the full report click here.