The Financial Post reports in its Tuesday edition that the electric vehicle transition in Canada is hitting another speed bump, as major incentive programs that shave thousands of dollars off the price tag of a new EV are being curtailed and cut short. The Post's Gabriel Friedman writes that Transport Canada on Monday said it "paused" its financial incentive program over the weekend, which provided up to $5,000 to consumers; Quebec said it plans to temporarily suspend its program, which had provided as much as $7,000 back, in February. Analysts have described such consumer rebates as a pillar that underpins EV sales, which accounted for 16.5 per cent of all new sales in the third quarter of 2024, their highest level to date. The looming end to rebate programs has angered many in the auto sector who say it will make it challenging for automakers to meet federal and provincial EV sales mandates. Charles Bernard, lead economist at the Canadian Automobile Dealers Association, said in a statement, "There is obvious hypocrisy in imposing ambitious [zero-emissions vehicle] targets and affiliated penalties on the industry and consumers when the government is showing a clear lack of motivation and support to meet these goals."
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