The electric car is evolving at breakneck speed. More and more manufacturers are offering an electric vehicle, and several are even diversifying their offer by offering more than one model.
As for public charging infrastructures, new stations are added regularly across the country. Government subsidies continue to attract new consumers. And with increasingly extended ranges, barriers are gradually coming down for local buyers. In short, things are moving fast, and the electric car has a fair amount of wind in its sails. Here’s what’s in store for the coming months.
The Tesla Model Y: the world’s best-selling vehicle
Before looking ahead to 2024, let’s take a final look back at 2023, which ended with some excellent news for Tesla, whose Model Y was the best-selling vehicle of the year. The American brand sold no fewer than 1.23 million units of its electric crossover. This is the first time an electric vehicle has topped the global sales podium.
To keep up the momentum, Tesla has announced a major price cut that has a major impact on our market. In fact, the entry price of the powered Model Y has been reduced from $57,990 to $53,990.
Highly anticipated models in 2024
For Japanese manufacturer Honda, 2024 will be a pivotal year. Indeed, they’ve unveiled their very first mass-produced electric vehicle: the Prologue. After being a pioneer in the world of hybrids at the turn of the millennium, Honda has been dragging its feet when it comes to 100% electric vehicles. Developed jointly with General Motors, this electric crossover is built on the Ultium platform and promises a range of 452 kilometers.
For its part, Volvo will be adding a new electric SUV in the coming months. After the XC40 Recharge and C40 Recharge, it will be the turn of the EX30 to enter the Swedish manufacturer’s catalog. Smaller than the other two models, it should start at $53,700. With a two-engine version benefiting from four-wheel drive, performance should be impressive. Volvo has announced a power output of 422 hp, enabling it to reach 100 km/h in 3.6 seconds.
Also, among the expected new products, we can’t overlook the possible arrival of the Chevrolet Equinox EV. This electric SUV is slightly smaller than the Blazer EV, which was introduced at the very end of 2023. Consumers will be able to choose between front-wheel drive and four-wheel drive, with a range of up to 480 kilometers. The entry price promises to be more than attractive.
Waiting times melt away and promotions get in on the act
Towards the end of 2023 and in the first few weeks of 2024, the waiting time for certain interesting electric vehicles melted like snow in the sun. While the estimated time to take possession of a Volkswagen ID.4 was once two years, the situation is quite different at the moment. The province’s dealers have them in stock and can deliver them on the same day, or almost. It’s also worth noting that the automaker is trying to boost sales of the model by subsidizing financing rates. Whereas rates were as high as 7.25%, they are now 2.99% for the month of February.
At the time of its launch, the Volkswagen ID.4 was assembled exclusively in Germany, and supply was well below demand. Thomas Tetzlaff, Director of Public Relations for Volkswagen Canada, pointed out that “since production of the ID.4 began in Chattanooga, Tennessee, at the end of 2022, the number of units allocated for the Canadian market has grown steadily”. He also made a point of mentioning that “Volkswagen intends to deliver even more ID.4s during 2024”. Sounds promising.
This is a fine example of the rapid evolution of the electric car market and, above all, of a manufacturer’s ability to adapt. It would not be surprising to see the same phenomenon elsewhere in the industry.