Update 2, January 17, 2025: Ford of Canada has introduced a manufacturer incentive on eligible vehicles purchased between January 13 and 21. Through it, consumers will be able to save $5,000 on 2023-2025 Ford Mustang Mach-Es, $5,000 on 2024-2025 Ford Escape PHEVs, and $2,500 on 2024-2025 Lincoln Corsair PHEVs.
Update, January 16, 2025: Nissan Canada announced its own rebate program today. In an emailed statement, the manufacturer told AutoTrader that it "will be applying an equivalent rebate ($5,000 CAD after-tax) on all Ariya models at all our Canadian dealerships during the month of January for those would be affected by this sudden change" in the iZEV program.
The announcement that the federal government’s Incentive for Zero Emission Vehicles (iZEV) program is on pause after exhausting its resources may have some consumers fretting, but there are some stopgap measures for consumers who still want an EV, with Volkswagen and Hyundai offering electric vehicle (EV) incentives of their own.
Volkswagen is “offering an additional $5k rebate on any MY24 ID.4s,” said Thomas Tetzlaff, the manager of public relations at the Volkswagen Group Canada, in an email. “This, combined with the existing offer, means customers can get $10k off AND take advantage of preferred finance rates.”
However, customers will have to act fast because the deal is only good until the end of January. Similarly, Hyundai is offering support for customers who are thinking of buying one of its iZEV eligible vehicles (such as the Ioniq 5 or Kona Electric), but only until January 31.
“Hyundai Auto Canada will provide a rebate guarantee for vehicles sold or leased between January 3 to January 31, 2025,” Jennifer McCarthy, Hyundai’s national director of public relations, told AutoTrader in a statement. “If the iZEV Program is not reinstated in April 2025, HAC will cover the rebate up to the eligible amount for customers who purchased or leased in that period.”
That should help tide some consumers over until March, when the federal government’s iZEV program was scheduled to end. Since its inception, it was clear that the iZEV program would end when all funds committed to it in Budget 2022 were exhausted, but the suddenness of the announcement that the coffers were empty may have caught consumers by surprise.
The program promised consumers a tax incentive of up to $5,000 when they purchased an electric or plug-in hybrid vehicle, and was seen by many as a crucial measure in encouraging EV adoption. Unfortunately, the government has not yet announced whether the iZEV program will receive further funding.
