How are electric cars shaping Canada's auto market?
While it is likely that you have already heard about electric cars in the news over the past few years, many of us still have unanswered questions about these vehicles. First prominent in the early 1900s, these vehicles were then replaced with the gas and diesel-fuelled engine vehicles that we all have grown to know and love.
With that being said, it would now be fair to say that the nature of automobiles has already begun to come full-circle. With the recent growing interest surrounding Electric Vehicles (EVs) this has many consumers and car experts believing that these vehicles may very well may be the future of the auto industry. Whether this is true or not, learning more about electric vehicles can help you follow along with what the future may hold for you as a car owner.
From the range of electric cars, there are also some variations that exist for auto-consumers. These include, Battery Electric Vehicles, Plug-in Hybrid Electric Vehicles (PHEVs), Extended Range Hybrid Vehicles, Hybrid Electric Vehicles. Across these categories, there are many options that exist now and also more that will soon be available. As of now, one of the more common vehicles you may be familiar with is the Hybrid-Electric model, the Toyota Prius that has been on the market for several years.
What is the Difference between Hybrid Electric & Battery Electric?
Another important piece of information surrounding this topic is the difference between a Hybrid Electric and a Battery Electric vehicle. Battery electric vehicles are solely powered by more than one electric motor. Hybrid electric vehicles, on the other hand, use both electricity and gasoline as a source of power. Unlike the first type which relies only on electricity, when the Hybrid model runs out of electric power, the fuelled-run engine kicks in. The various types of electric vehicles, as well as the dual-operated hybrids which have been around for some time, illustrates a future that is likely to include cars that are mainly operated using batteries and similar forms of electricity. The Environment
In terms of being a suitable alternative to fuel-burning vehicles, EVs are recognized as being more environmentally-friendly. Reduced vehicle emissions are helping lower air pollutants and for many reasons, drivers are opting for these vehicles over other types of fuelled cars. With more and more attention being given to the many environmental issues we are exposed to all across Canada, many provinces and industries, including the auto-motive sector are addressing and adapting to these growing concerns.
To further demonstrate Canada’s investment in the negative environmental impact of green-house gas emissions, many provinces are looking to promote the use of more environmentally-friendly vehicles. In kind, various provincial governments have developed some financial incentives to expand the public interest in these types of vehicles. Several provinces are now offering rebates to many Canadians who choose to purchase an electric vehicle. The value of these rebates as well as the terms is specific to each provincial offer and in Ontario for example, auto consumers are eligible for rebates of up to $8,500.
While the federal government as a whole does not offer incentives for electric vehicle purchases, many provinces are looking to support consumers as they look towards electric vehicles as a viable alternative to traditional cars. From an environmental perspective, Canada as a whole is clearly interested in reducing greenhouse gas emissions – with electric vehicles at the forefront of this campaign.
The Expense of an Electric Vehicle
With that being said, there are some downsides – and even potential obstacles for purchasing these cars. As it turns out, purchasing a vehicle that operates only on battery and electricity, often come with a higher initial purchase price. However, on the other hand these vehicles do not require oil changes and typical tune-ups, so this may be a benefit when all is said and done.
Other cons associated with EVs may include the availability of enough charging stations across the country. However, these stations have continued to pop up and are much more prevalent than they once were – even only a couple of years ago.
If you are looking for charging stations in your area – you can search for these online. By simply putting in your postal code, you can identify where every charging station is located in your region. These days, mall parking lots, and other public areas ranging from libraries, hotels, university campuses, and of course many automotive dealers, themselves provide these recharging stations. Accessing the CAA site (http://electricvehicles.caa.ca/types-of-electric-vehicles/charging-stations/) can offer even further information about charging these vehicles, including the household plugs that drivers can use to recharge their vehicles right from home.
As it would seem, Canada as well as other parts of the globe are making room for a future that will include the presence of electric vehicles. If you are interested in switching to an electric vehicle, one question that is sure to be on your mind is how you will pay for the purchase of your new car?
Canada Drives works with you and many drivers across the country to help them obtain the vehicle financing they require. Whether you’re looking to buy a traditional or electric vehicle, we can connect with you a lender who will look at your situation and offer ways that they can help. Many of the lenders we can help connect you to specialize in offer bad credit car loans, helping drivers in all situations to access vehicle financing.
An added bonus of contacting Canada Drives for your financing needs if you do have bad credit is that we can help you improve your credit rating by connecting you to a lender who can meet your unique personal needs. Through proper loan repayment based on a manageable loan – not only can you drive the car of your dreams, you can also re-build your credit along the way.