Canadian consumers have been caught off guard by the sudden termination of the Incentives for Zero-Emission Vehicles (iZEV). During December 2024, over 25,000 iZEV incentive applications were processed. There is little doubt that many consumers are now wondering how to adjust to the new financial landscape. The program was scheduled to end by March 31, 2025, at the latest.
Car makers appear to be taking steps to help consumers move forward with their purchases by offering either $2,500 or $5,000 rebates on specific electric vehicles. Ford Canada, GM Canada, Honda Canada, Hyundai Canada, Nissan Canada, and VW Canada have all indicated that they will offer $5,000 rebates on cars that previously qualified for the iZEV incentive.
More details about eligible vehicles and program conditions will be posted here. Updated at 1515 EST January 17, 2025.
