The Chevy Equinox EV is showing strength in the Canadian electric vehicle market, extending its lead in Canadian iZEV (Zero Emission Vehicle) rebate claims last month. As GM Authority covered previously, the Chevy Equinox EV beat the Tesla Model 3 as the model with the greatest number of incentive requests during the month of August, accounting for 1,853 requests, as compared to 1,833 requests for the Tesla Model 3 during the same time period. Notably, the Equinox EV was GM Canada’s third best-selling vehicle during Q3 of the 2024 calendar year.
According to a report from Automotive News, which cites data from Transport Canada, incentive claims for eligible battery electric vehicles (BEV) and plug-in hybrid electric vehicles (PHEVs) jumped to 24,250 for the month of October. Leading the claims was Chevrolet, which accounted for 3,850 claims, up from 2,355 claims recorded in September. Chevy recorded a total of 14,726 claims year to date for 2024.
In second place was Hyundai with 3,650 claims in October, up from 2,464 claims in September, with 22,789 claims year to date. Toyota was third with 3,622 claims in October, up from 3,257 claims in September, and 20,145 claims year to date. Tesla was fourth with 2,632 claims in October, down from 2,848 claims in September, with 33,963 claims year to date.
During October, the Chevy Equinox EV was the leader in BEV incentive claims at 2,979, up from 1,711 claims in September, with 8,232 claims year to date. The Hyundai Ioniq 5 was second with 2,066 claims in October, up from 1,190 claims in September and 9,366 claims year to date. The Tesla Model Y was third with 1,681 claims in September, down from 1,959 claims in September, with 22,732 claims year to date.
Per Automotive News, the Canadian province of Quebec lead the country in claims, accounting for nearly two-thirds of the claims made in October. Quebec has been the leader in zero-emission vehicle adoption in Canada for years, and traditionally accounts for 50 to 55 percent of Canadian federal rebate claims.
The Canadian iZEV program offers a CA$5,000 (US$3,570 at current exchange rates) for BEVs and PHEVs with an electric range greater than 49 km (30.4 miles). PHEVs with less than 49 km of all-electric range may be eligible for a CA$2,500 (US$1,784) rebate. Stackable rebates are also available in select provinces. The Equinox EV starts at CA$47,499 in the Canadian market.
| Trim Level | Drivetrain | 2024 MSRP + DFC |
|---|---|---|
| LT | FWD | $47,499 |
| LT | AWD | $50,999 |
| RS | FWD | $52,499 |
| RS | AWD | $55,999 |
- Includes CA$2,500 destination frieght charge, excludes CA$699 dealer fees
Comments
Quebec offers $8,000 CAD in rebates. Coupled with the $5,000 CAD federally and that’s $9,288.76 USD – even better than the $7,500 that is being offered in the USA. But without that $8,000 from Quebec, the Canadian rebate is a paltry $3,572.60 USD. Another thing to consider is initial price. Citizens in both countries make similar dollar amounts, but the US dollar is far stronger, so that $30,000 Equinox EV is $50,000+ CAD. The $5,000 rebate barely makes a dent.
Quebec is now at 7000$, until december 31st 2024. After, they decrease the subvention to 0$ in the next 2 years.