New Brunswick Tribune

Thursday, November 30, 2023

Electric vehicle demand is soaring due to sky-high gas prices

Electric vehicles are in high demand due to sky-high petrol prices.

Key Takeaways:

  • Tracy Miersch gave up her gas-powered automobile in January 2021, citing increased prices as the reason.
  • Many Maritimers, including Miersch, are looking for a way to relieve their pump aches, which have worsened in recent months.
  • In New Brunswick and Prince Edward Island, refunds of up to $5,000 may be offered when purchasing a new vehicle.

Tracy Miersch abandoned her gas-powered vehicle in January 2021, fed up with the added costs.

The Miramichi, N.B., resident chose to buy her first electric vehicle instead, telling Global News that it seemed like a more convenient option given her job’s regular travel.

“The cost of gas, as well as the cost of maintenance, engine repairs, oil changes, and the time and annoyance involved,” Miersch explained.

After a year of driving electric, Miersch has observed significant financial savings due to the transition.

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“I did a cost breakdown for last year because I bought it in January and kept it for the entire year,” Miersch explained. “I ended up spending many thousand dollars less on total ownership costs.”

Many Maritimers, like Miersch, are seeking to get rid of their pump pains, which have gotten worse in recent months.

The demand for electric vehicles has All EV Canada’s phones ringing nonstop.

“I think we’re seeing a lot of folks from Atlantic Canada who wanted an electric car previously, but these new gas costs in the last few months have thrown them over the edge to do much more than just consider it,” stated Jérémie Bernardin, Business Development Manager at All EV Canada.

Unlike gas-powered automobiles, electric vehicles degrade far more slowly, according to Bernardin, who added that they retain their worth in many circumstances.

Electric vehicles are in high demand due to sky-high petrol prices.
Electric vehicles are in high demand due to sky-high petrol prices. Image from Grist

He pointed out that lower maintenance expenses and cheaper fuel offset the higher price tag.

On the other hand, electric vehicles are not immune to supply chain problems, and high demand means that many drivers will have to wait months for their new ride.

“It wouldn’t be far off the mark to argue that certain models with high demand had a two-year waiting.” On the pre-owned side, you have many more options when you say, “I’m searching for this model.” Bernardin stated, “This is what I want, and this is the color I desire.”

If you can get your hands on an electric car, government programs will certainly reduce the cost.

When purchasing a new automobile, rebates of up to $5,000 may be available in New Brunswick and Prince Edward Island. On the other hand, residents in Nova Scotia may be eligible for up to $3,000 in refunds.

Additional assistance from the federal government could result in a $5,000 rebate.

Source: Global News

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