logo
Car shoppers pessimistic about Canada's zero-emissions vehicle sales target: survey

Car shoppers pessimistic about Canada's zero-emissions vehicle sales target: survey

A new survey has found that the majority of car buyers don't think the Canadian government can achieve its target of 100 per cent zero-emission vehicle sales by 2035, as interest in electric vehicle purchases remains largely unchanged from last year.
The survey from consumer insights firm J.D. Power found that 75 per cent of new-vehicle shoppers are not confident the 2035 target will be reached.
The survey also found that 28 per cent of respondents are 'very likely' or 'somewhat likely' to consider an EV for their next vehicle purchase, down from 29 per cent last year and 34 per cent in 2023.
J.D. Ney, director of automotive practice at J.D. Power Canada, said Canadians are still hesitant to embrace EVs for several reasons, with anxiety topping the list as they are worried about how far they can drive on a single charge. He said affordability and lack of charging infrastructure are other major factors.
'Based on the type of vehicle that most Canadians want to drive, they're expensive vehicles in this market,' he said.
The target that all new light-duty vehicles sold be zero-emissions by 2035 was initially set by former prime minister Justin Trudeau's government.
But Ney said based on the survey results, it is unlikely Canada could reach that goal in the next decade.
'EVs will continue to be a part of ... the mobility solution for Canadians and I think that they'll slowly grow in terms of market share,' he said in a phone interview.
'It certainly may not be as quickly as, you know, a federal government mandate would like, but I think they're going to remain a part of the conversation for quite some time.'
Canadian interest in EVs is much lower than in the United States, where 59 per cent of those surveyed said they are either 'very likely' or 'somewhat likely' to purchase an electric vehicle.
The federal government paused an incentive program in January that offered Canadians rebates of up to $5,000 when buying or leasing electric vehicles, a move that Ney said was 'certainly not going to help EV adoption.'
J.D. Power's online survey of nearly 4,000 potential new vehicle buyers found that program pause had a negative effect on 42 per cent of those who were likely to consider getting an EV.
The polling industry's professional body, the Canadian Research Insights Council, says online surveys cannot be assigned a margin of error because they do not randomly sample the population.
The survey also found that Canadian car buyers' most-considered EV brands have changed.
Tesla, owned by tech billionaire Elon Musk, dropped from second to eighth place among most-considered EV brands in Canada, with Hyundai, Kia, Toyota, Ford and Chevrolet now occupying the top five spots.
This report by The Canadian Press was first published May 29, 2025.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Factoring in the hidden costs of buy now pay later
Factoring in the hidden costs of buy now pay later

Yahoo

time31 minutes ago

  • Yahoo

Factoring in the hidden costs of buy now pay later

TORONTO — When any service is offered for free, it's good to know why. In the booming market of buy now pay later financing, those opting in generally get to spread payments over a number of weeks at no cost, because it's the merchants that pay for the service in the hopes it will convince consumers to spend more. That's certainly the promise providers like Affirm and Klarna advertise to businesses, touting 20-something per cent boosts to order totals, while Shopify says its instalment program can lead to up to a 50 per cent boost in average order value, plus up to 28 per cent fewer abandoned carts. While the option can add convenience at possibly no direct cost to consumers, financial experts warn it's far from risk free. 'The temptation is very great to overspend,' said insolvency trustee Doug Hoyes. With the option popping up during online checkout, or being offered by a cashier, consumers are also not necessarily fully thinking through the decision, and the implications of what they're agreeing to, said Hoyes. 'For the vast majority of people, you are taking on debt without really realizing it. You're not making a conscious decision that yes, I will borrow that money. And that's dangerous, obviously.' While the vast majority of buyers pay off those debts — which tend to run in the hundreds of dollars rather than the thousands — there's also a rising push to have the data shared with credit-reporting agencies, creating new areas of risk. Just last week in the U.S., reporting giant FICO said it was launching its first credit scores that incorporate BNPL data. And in April, Affirm said it would start sharing data with TransUnion in the U.S., with a goal to do so in Canada as well, said spokesman Brian Levin. 'We believe that reporting to credit agencies supports responsible lending and promotes positive credit outcomes." In Canada, Equifax said its credit reports have started to include data from some BNPL lenders, which may be used in the calculation of credit scores. TransUnion said it's still in the development stage of figuring out how to integrate BNPL data, including creating a separate section on credit reports to reflect the unique nature of these products, said spokeswoman Hyunjoo Kim. While work progresses to add BNPL to credit reporting, some providers have raised concerns. Klarna said in March last year that it wasn't sharing data with U.S. credit-reporting agencies because BNPL doesn't fit in well with other types of loans. The company, which confirmed it doesn't share data with Canadian agencies either, said adding BNPL to existing credit-reporting models could leave consumers worse off. 'As there is little clarity on the potential long-term impacts to the consumer, we believe this approach is too risky," it said. Other providers, like AfterPay, also say they don't provide any data to credit-reporting agencies. Sezzle said sharing data with ratings agencies is an option for those who choose its Sezzle Up program to built their credit. The varying approaches on credit reporting are also a reminder of the variety of other subtle policy differences between providers that consumers should consider before signing up. Some, like Klarna, charge a small late fee and send unpaid debts to collection agencies, while others like Affirm and AfterPay lean more on halting any further purchases until older bills are paid. Most providers are also increasingly offering longer-term loans, with rates ranging anywhere from zero interest into the 30 per cent range. Some are also striking partnerships for bigger-ticket items like exercise equipment and flights, making for a potentially risky transition to higher debt loads. Just the fact that there are so many providers also raises the risk of stacking them, and having to keep track of multiple accounts of debt, said Natasha Macmillan, head of everyday banking. 'Because of the zero-interest appeal, it almost gives people a false sense of affordability,' she said. 'The real caution I would provide is ensuring that, if you do have one, or multiple, you're looking at the total cost of all of the Buy Now, Pay Later programs that you have ongoing, to ensure that you can actually cover the cost of each of them.' The strain of those cheap loans is starting to show for some providers. Klarna's most recent quarterly results showed a 17 per cent increase in consumer credit losses, and its overall losses doubled, raising concerns it could be the start of wider industry trouble. But the company's credit loss rate was still only 0.54 per cent, showing the vast majority of borrowers are still repaying their debts. The bigger question is whether consumers are spending more than they meant to, and if money they had planned to put elsewhere is now going toward paying back those purchases. To avoid a pile of unexpected bills, Hoyes said the key when shopping is to think ahead. 'There's nothing wrong with using a credit card or Buy Now, Pay Later or a car loan or a mortgage or anything like that. It's when you don't have a plan, when it becomes an impulse purchase when you're standing at the store, that's when you can get into a bit of trouble.' This report by The Canadian Press was first published July 3, 2025. Ian Bickis, The Canadian Press Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data

Auto review: Struttin' down the runway in the stylish, Nissan Murano
Auto review: Struttin' down the runway in the stylish, Nissan Murano

Miami Herald

timean hour ago

  • Miami Herald

Auto review: Struttin' down the runway in the stylish, Nissan Murano

FARMINGTON HILLS, Michigan - You don't so much drive the Nissan Murano as wear it. It's a fashion statement. Even coated in salt from a days' drive across Metro Detroit's wintry tundra, my Aurora Blue Pearl Metallic Murano looked ready for the Detroit Auto Show Charity Preview. Bezeled silver roofline like a Saarinen arch, muscular hips, slim front light signature over a lit lower grille (a touch of Ferrari Purosangue there?). The Nissan Murano is lovely. Always has been. Since it strutted down the runaway as the first midsized crossover in 2003, it has put the "sport" in sport utility vehicles. Elegant lines, lush grilles, high-tech interiors, albino seats you want to lick they're so sweet. Now in its fourth generation, the 2025 Murano is once again on the cutting edge of fashion, for good and ill. For good, it has lost its voluptuous Rubensesque figure from the 2010s and emerged from the gym with a more svelte, athletic torso for the '20s. Cars are fashion, and this is the era of sleek iPhones and Teslas. So, too, the interior, which ditches the ol' vertical lines for lean, horizontal lines accented with high-tech screens and haptic touch controls. For ill? Murano has conformed to the same common turbo-4 engine found in every other bot these days, from the Nissan Rogue SUV to the Hyundai Tucson to the Chevy Traverse. Sigh. Government emissions regulations force uniformity, and that works against elegant non-conformists like the Murano, which used to belt out healthy V-6 exhaust tunes. As we danced across Huron River Parkway, I buried the throttle and ... oh. like watching Beyonce leaning into a chorus and Rosanne Barr's voice coming out. The Ariya, Murano's fetching electric sister, boasts smooth torque that better complements its similarly exotic wardrobe - right down to the same twin screens and haptic wood dash accents. But that comfort becomes discomfort on a cold Michigan day, where 305-mile range drops 30% and the 270-mile trip to Nub's Nob suddenly looks challenging. With 505 miles of gas range, the 27 mpg highway Murano is the safer date. While I bemoan the absence of the optional 260-horse V-6, the 241-horse turbo-4 pairs with a smooth nine-speed transmission instead of the coarse, continuously-variable V-6 tranny of yore. Speaking of yore, many Nissan shoppers will be empty nesters looking to downsize after years carting kiddies in a three-row Pathfinder or Armada. Murano is just the ticket. As is the subcompact Kicks, another stylish turbo-4 entry that is new for '25. Proving style doesn't sacrifice quality, both led their segments in J.D. Power's 2025 U.S. Vehicle Dependability Study, which tracked reliability over three years of ownership. Both SUVs boast big backseats for leggy friends, but the Murano bring more sophistication for its higher price. The interior is a great place to spend time. Start with "Zero Gravity" seats, which you'll want to rip out of the car and use in your living room they are so comfy. The leather-wrapped console is easy on the eyes - and my knobby knees that rested against the console for miles. For ill? Ergonomics are a mixed bag. Steering wheel controls are superb, with raised buttons that you can adjust without your eyes leaving the road. However, Nissan chose a push-button console shift design that requires you to look away from the road to shift gears. Better that they had chosen a stalk shifter solution like Chevrolet if it was the console space-saver they were looking for. And that stylish haptic climate control? It also requires taking your eyes off the road. For good, Murano is tech-tastic. My list of safety must-haves - adaptive cruise control, blind spot-assist, rear-backup assist, are all standard. Google Built-in (standard on the SL trim and up) has good voice recognition abilities. So you change the temp by voice rather than haptic touch. Hey, Google, turn the driver-side temperature to 70 degrees. Done. I like a car with a sense of humor, and Murano knows dumb jokes. Hey, Google, tell me a joke. What's a pig's favorite karate move? A pork chop. Boom. Murano has a deep bench of convenience settings. My favorite: it locks automatically when you walk away with key in pocket - or unlocks automatically as you approach. Just like a Tesla. Unlike a Tesla: Nissan brings 360-degree camera innovation. Not only will its eight cameras provide a bird's-eye 360-degree view, but it offers multiple views, including the ability to see through your hood so you can perfectly place your tires in a parking spot or avoid parking-lot potholes. I'm not making this up. To discover more tech goodies, Nissan thoughtfully provides video guides in the infotainment screen. My Murano tester was a top drawer, $51,415 all-wheel-drive Platinum model. But I'd recommend the SL, which allows you to option all the features above. Make mine an SL with standard Google Built-in, wireless charging, panoramic roof, all-wheel drive, 360-degree camera, plus ... Auria Blue Metallic paint ($425), spare tire ($180). Boom. A state-of-the-art Murano for $47,950 that you'll never get tired of wearing. 2025 Nissan Murano Vehicle type: Front-engine, front- and all-wheel-drive, five-passenger SUV Price: $41,860 base, including $1,390 destination ($51,415 AWD Platinum model as tested) Power plant: 2.0-liter turbocharged, inline 4-cylinder Power: 241 horsepower, 260 pound-feet of torque Transmission: Nine-speed automatic Performance: 0-60 mph, 8.0 seconds (Car and Driver est. AWD); towing, 1,500 pounds Curb weight: 4,438 pounds (as tested) Fuel economy: EPA est. 21 city/27 highway/23 combined (FWD and AWD); 505-mile range Report card Highs: Sculpted exterior; high-tech features Lows: Uninspired turbo-4; distracting shifter, climate controls Overall: 3 stars ____ Copyright (C) 2025, Tribune Content Agency, LLC. Portions copyrighted by the respective providers.

WesBanco, Inc. to Host 2025 Second Quarter Earnings Conference Call and Webcast on Wednesday, July 30th
WesBanco, Inc. to Host 2025 Second Quarter Earnings Conference Call and Webcast on Wednesday, July 30th

Yahoo

timean hour ago

  • Yahoo

WesBanco, Inc. to Host 2025 Second Quarter Earnings Conference Call and Webcast on Wednesday, July 30th

WHEELING, July 3, 2025 /PRNewswire/ -- WesBanco, Inc. (Nasdaq: WSBC), a diversified, multi-state bank holding company, announced today it will host a conference call at 9:00 a.m. ET on Wednesday, July 30, 2025. Jeffrey H. Jackson, President and Chief Executive Officer, and Daniel K. Weiss, Jr., Senior Executive Vice President and Chief Financial Officer, will review financial results for the second quarter of 2025. Results for the quarter are expected to be released after the market close on Tuesday, July 29, 2025. Interested parties can access the live webcast of the conference call through the Investor Relations section of the Company's website, Participants can also listen to the conference call by dialing 888-347-6607, 855-669-9657 for Canadian callers, or 1-412-902-4290 for international callers, and asking to be joined into the WesBanco call. Please log in or dial in at least 10 minutes prior to the start time to ensure a connection. A replay of the conference call will be available by dialing 877-344-7529, 855-669-9658 for Canadian callers, or 1-412-317-0088 for international callers, and providing the access code of 5130124. The replay will begin at approximately 11:00 a.m. ET on July 30, 2025 and end at 12 a.m. ET on August 13, 2025. An archive of the webcast will be available for one year on the Investor Relations section of the Company's website ( About WesBanco, over 150 years as a community-focused, regional financial services partner, WesBanco Inc. (NASDAQ: WSBC) and its subsidiaries build lasting prosperity through relationships and solutions that empower our customers for success in their financial journeys. Customers across our nine-state footprint choose WesBanco for the comprehensive range and personalized delivery of our retail and commercial banking solutions, as well as trust, brokerage, wealth management and insurance services, all designed to advance their financial goals. Through the strength of our teams, we leverage large bank capabilities and local focus to help make every community we serve a better place for people and businesses to thrive. Headquartered in Wheeling, West Virginia, WesBanco has $27.4 billion in total assets, with our Trust and Investment Services holding $7.0 billion of assets under management and securities account values (including annuities) of $2.4 billion through our broker/dealer, as of March 31, 2025. Learn more at and follow @WesBanco on Facebook, LinkedIn and Instagram. View original content to download multimedia: SOURCE WesBanco, Inc. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store