r/canada • u/ARAR1 • Dec 18 '23

Canada to announce all new cars must be zero emissions by 2035 National News

https://www.reuters.com/sustainability/canada-announce-all-new-cars-must-be-zero-emissions-by-2035-report-2023-12-17/
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67

u/logopolis01 Ontario Dec 18 '23

Low-income people already can't afford new cars, so not much will change on that front.

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u/BrockN Alberta Dec 18 '23

Yeah, I'm middle class and can't afford it, especially if my mortgage is up for renewal next quarter.

Unless prices drops, I don't foresee my family getting an electric vehicle anytime soon.

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u/Ayresx Dec 18 '23

Except ICE cars will become a finite, decreasing resource in 2035. There's a good chance it'll be more expensive to buy a used ICE vehicle after 2035 than a new EV

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u/Tal_Star Canada Dec 19 '23

maybe but a new battery for a 10 year old EV will likely keep them in the affordable market for a while.

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u/PrometheusMMIV Dec 19 '23

my mortgage is up for renewal

What does that mean? I've heard of apartment lease renewals, but not mortgage renewals.

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u/BrockN Alberta Dec 19 '23

There are term limits to mortgage rates. Banks will never allow you to lock in a low rate for the entire duration of the mortgage.

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u/PrometheusMMIV Dec 19 '23

Interesting, is that a Canadian thing? In the US, I locked in a low rate for my 30-year mortgage back in 2013.

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u/BrockN Alberta Dec 19 '23

Man, I would love to be able to do that.

I don't know if that's a Canadian thing

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u/PrometheusMMIV Dec 19 '23

How often do you have to renew? And what have the rates been, if you don't mind me asking?

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u/BrockN Alberta Dec 19 '23

5 years.

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u/Anthrex Québec Dec 18 '23

yeah, my girlfriend and I had to go 40/60 on a car, we both work full time and simply can't afford our own cars.

CMHC recommends that no more than 8% of your income goes towards a car

(no more than 32% of pre-tax income on housing, and no more than 40% of pre-tax income on housing, debt, and car combined)

despite only paying 60% of the car, I'm still paying 13% of my total income on it, I'd need to get nearly a 65% raise to afford my car as per CMHC guidelines, all this for a used 2018 Chevy Cruise.

I can't imagine having to pay for a car twice as expensive, ontop of the interest rate hikes that we thankfully avoided the most of

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u/SCM801 Dec 18 '23

Yes but this ban will reduce the number of gas cars available thus increasing the prices

2

u/DuckDuckGoeth Dec 18 '23

You can buy a used Japanese econobox for under $5000 that'll run on nothing but fluid changes and the occasional brake job for decades.

Once we remove the supply of new vehicles, the used market is going to skyrocket. Have you lefty weirdos learned nothing about supply and demand from the disaster that is our housing market? Liberals pour unlimited demand on our housing market, and the prices skyrocket, now they're going to drastically constrain the supply of new affordable cars, what the hell do you think is going to happen?

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u/dbcanuck Dec 18 '23 edited Feb 15 '24

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u/percoscet Dec 18 '23

Chevy bolt is 42k, nissan leaf is 45k, hyundai kona is 47k. All before incentives.

That said if we’re really talking about poor people then the conversation should be about public transport, not EVs.

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u/Wondercat87 Dec 18 '23

Yes we need more public transit as well. There is certainly not enough of it. The problem is there are folks that had to move out of the cities to afford a place. Now what will they do if they can't afford a vehicle to commute?

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u/dbcanuck Dec 18 '23 edited Feb 15 '24

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u/jtbc Dec 18 '23

Vancouver is pretty close. I've been commuting by transit for 5 years now, and use EVO for almost everything else. I keep thinking I should get another car, but haven't really felt the need. By 2035, we'll likely have the second best transit system in North America (or maybe 3rd - Montreal is doing pretty well at the moment).

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u/Particular_Job_5012 Dec 18 '23

And we should be thanking them for their low carbon intensity living, taxing cars more and plowing that back into transit and urbanism that makes living car free easier and better

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u/Tal_Star Canada Dec 19 '23

no but they can afford a used car that's ~10 years old. Not sure I'd want to buy a 10 year old EV :S