Record Electrical Vehicle Sales as Gas Prices sink

While we’re enjoying lower gas prices, some drivers plan to never return to one as electric vehicle sales in Canada are on a record pace.

The holiday season isn’t the only reason people around the gas station have been jolly. According to prices around Hamilton have ranged between 90 to 98 cents a litre down from about $1.21 this time last year.

While Ontario drivers fill-up guilt-free, our neighbours in Alberta are reeling as oil prices continue to fall.

That’s taking a toll on Canada’s economy. Marvin Ryder from the DeGroote school of business says about 50% of the stocks traded on the TSX are oil-related.

Despite gas being cheaper, more and more Canadians are ditching the combustion engine for an electric vehicle.

Fleetkarma, an E.V. information and tech company, reported that early 35,000 plug-in vehicles were sold across Canada by the end of September, more than the last three years combined.

The site factored in improved aesthetics, range and also the ford government’s removal of of the EV-rebate thus forcing some indecisive shoppers to jump on their first electric car before the money-saving rebate was gone, but now that the rebate is no more, some drivers feel that the only EV’s worth buying are still out of their price range.

While there are luxury electric vehicles that would give many people sticker shock, other brands like Chevy, Hyundai and Honda are bringing out models that are much more reasonably priced.