06:46 AM EDT, 09/10/2024 (MT Newswires) -- Despite several recent indications that automakers are pumping the brakes on electric vehicle (EV) offerings, the latest data on new vehicle registrations in Canada highlight that one in every five is now an alternative fuel vehicle, noted Bank of Montreal (BMO).

The combination of battery electric (BEV), plug-in hybrid electric (PHEV) and hybrid electric vehicles (HEV) reached an all-time high above 20% of new registrations in Q2, said the bank. Plug-in vehicles (BEVs and PHEVs) comprised almost 13% of sales while HEVs were flat at around 8%.

The sluggish performance of HEVs stands out, as that segment has

performed exceptionally well in the United States this year.

PHEVs seem to be the beneficiary in Canada, with registrations up over 43% y/y, pointed out BMO. BEV sales were up 36% y/y and reached an all-time high of more than 48,000 units in a quarter.

Across the Canadian provinces, Quebec still has the highest EV share (26%) and even passed British Columbia when HEVs are included (31.7% versus 29.4%), added the bank. Meantime, Ontario EV sales (7.6%) improved, but Quebec is still outselling the largest province by a ratio of more than two-to-one.