The Government of Canada has just announced via a posting on its website that the federal electric vehicle incentives program, the iZev program, will end before March 31, 2025.

　　This means that the $5,000 credit available to buyers of eligible EVs will be eliminated. With the incentive reduced from $7,000 to $4,000 in Quebec on January 1, and temporarily eliminated as of February 1, 2025, this means that there will soon be no discount available on the purchase of an electric model in most of Canada.

　　In Quebec, the program could return in April, but that has yet to be confirmed, and we also know that it will be gone altogether. The incentive will drop to $2,000 in January 2026 before being eliminated in January 2027 - if it is retained, of course.

　　Dealers will have to work hard to sell off inventories of EVs, as prices will no longer be the same for consumers.

　　More information on this announcement will follow.

　　The Hyundai Ioniq 5 | Photo: Hyundai