BUDGET 2022 INVESTMENTS CRITICAL TO BC MAINTAINING EV LEADERSHIP POSITION AND ACHIEVING ZERO EMISSION VEHICLE TARGETS
For immediate release
Vancouver BC – Today’s provincial budget includes funding commitments that will help ensure BC’s continued success in electric vehicle (EV) adoption, says the New Car Dealers Association of BC (NCDA).
Key elements of Budget 2022 include:
- $79 million to continue the Go Electric program which includes rebates on the purchase of new clean energy vehicles and electric vehicle charging systems
- PST exemption for used Zero Emission Vehicles (ZEVs), effective now until 2027
- An increase in the luxury tax threshold on passenger ZEVs to a base of $75,000 from $55,000.
Of prime importance to New Car Dealers and their customers is the ongoing commitment to the Clean BC Go Electric Vehicle Rebate Program. This initiative currently provides British Columbians with savings of up to $3,000 on the purchase of a new battery electric or hydrogen fuel cell vehicle and has been administered by the New Car Dealers Association of BC since 2010.
“We know that consumers respond to rebates, especially when they know they are achieving an environmental objective, but the importance of rebates on new vehicle purchases and an ongoing commitment to charging stations where we live, work and drive cannot be overstated,” said NCDA President and CEO Blair Qualey.
The ongoing sustainability of the Go Electric BC Program will be key to long term success and the province meeting its ambitious target of 100% of all light-duty vehicle sales in the province being ZEVs by 2035. To that end, the announcement that will see BC Hydro provide funding for EV rebates, generated from selling Low Carbon Fuel Standard credits will ensure a sustainable source of funding.
“An increase in the Luxury Tax threshold on EVs is a very positive aspect of Budget 2022, as it will provide an incentive for consumers to consider a broader selection of clean energy vehicles,” continued Qualey. “This, in combination with the other highlighted aspects of the Budget is good for consumers, good for the economy, and most importantly, good for the environment.”
About the New Car Dealers Association of BC: The NCDA is the provincial industry association that represents over 400 new car and truck dealers throughout British Columbia. Members of the Association provide over 30,000 family supporting jobs for British Columbians and are responsible for over $16 Billion of retail sales in the province. The Association speaks on behalf of the retail new automotive industry to the public, media, and government, and deals primarily with the legal, environmental, and consumer issues relating to vehicle sales in BC.
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Contact:
Kelly Gleeson
604-240-6231
[email protected]
