11:16:41 EDT Mon 01 Jun 2026
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Honda CDR (CAD Hedged)
Symbol HNDA
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Close 2026-05-29 C$ 10.04
Market Cap C$ 702,800
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Globe/CP say Toyota EV buyers get the most in rebates

2026-06-01 08:07 ET - In the News

See In the News (C-TOYM) Toyota CDR (CAD Hedged)

The Globe and Mail reports in its Saturday edition that Canadians claimed more than $122-million in federal subsidies for new electric vehicles since Ottawa reintroduced its rebate program in February. A Canadian Press dispatch to The Globe says Transport Canada published the database for the new EV affordability program, known as EVAP, on Tuesday, three months after relaunching the program on Feb. 16. The database shows 24,389 claims were recorded but doesn't yet have a breakdown of the dollar figure for each claim because of a technical glitch. The department also confirmed the total amount of claims at $122-million thus far, leaving more than $2.1-billion available. Ottawa allocated $2.27-billion toward the rebate program, which is to last up to five years. Ottawa launched the first federal EV rebate program in 2019, and renewed its funding several times before shutting it down in January, 2025, when the final allocation of funds ran out. EV sales plunged almost immediately. The rebates apply only to domestic vehicles that cost less than $50,000. At 4,088 claims, the Toyota bZ was the most popular model for rebates, followed by Chevrolet Equinox EV with 3,065 claims. As an import, Tesla is shut out of the program.

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