Gas prices are coming dangerously close to hitting record highs and, naturally, Canadians mulling a new car purchase are wise to explore ways to reduce their fuel bill on their next vehicle. With every passing year, more and more Canadians are finding the answer in electrified vehicles like hybrids, plug-in hybrids and fully electric vehicles and, in some of the provinces with the highest average gas prices, there are a variety of rebates on such technologically advanced vehicles.
On May 1, 2019, a new federal rebate took effect to encourages drivers to purchase electric vehicles. The rebates take up to $5,000 off the cost of electric vehicles, and $2,500 off of plug-in hybrids, for vehicles that have a starting MSRP <$45,000 and whose higher vehicle trims does not exceed $55,000.
Plug-in hybrids – which have a gas engine plus electric motors and battery pack that can be recharged at home or charging stations – with battery packs between 4 kWh and 15 kWh. The Toyota Prius Prime plug-in hybrid, with 40 km of electric range thanks to its 8.8-kWh lithium-ion battery, qualifies for a $2,500 rebate.
If you’re wondering how you get the rebate, most dealers will apply the rebate as a discount when you buy the car or work it into a lower lease payment, and they’ll fill out the paperwork to get the rebate from the government, so it’s practically no hassle for you. Alternatively, you can fill out the forms provided by each government to receive the rebate personally after making the purchase.
No matter what type or size of vehicle you need, more and more models are available as hybrids and plug-in hybrids, so it’s worth digging deeper to find out if the vehicle you’re interested in has a hybrid model that could save you thousands of dollars in gasoline over several years of ownership. As an innovative leader in hybrid vehicles, we’re proud to offer more hybrid vehicles than any other manufacturer.
Learn more about the different hybrid vehicles available today and compare their fuel costs at the links below:
- http://www.mto.gov.on.ca/english/vehicles/electric/electric-vehicle-incentive-program.shtml
- https://www2.gov.bc.ca/gov/content/industry/electricity-alternative-energy/transportation-energies/clean-transportation-policies-programs/clean-energy-vehicle-program/cev-for-bc
- http://vehiculeselectriques.gouv.qc.ca/english/
- https://www.gasbuddy.com/TripCostCalculator
* https://business.financialpost.com/commodities/energy/alberta-gas-bar-shenanigans-push-national-average-price-to-five-year-high
** https://www.gasbuddy.com/CAN
https://www.huffingtonpost.ca/2018/07/12/ontario-electric-car-rebate-cancelled_a_23480717/
+https://www.nrcan.gc.ca/sites/www.nrcan.gc.ca/files/oee/pdf/transportation/tools/fuelratings/Model%20Year%202018%20Vehicle%20Tables.pdf
++ https://www.nrcan.gc.ca/energy/efficiency/transportation/cars-light-trucks/buying/20239
^Quebec charging stations: http://vehiculeselectriques.gouv.qc.ca/english/particuliers/recharge-publics.asp
