Volvo Car Canada’s 2024 Mobility Trend Report reveals a growing shift among Gen Z and Millennials toward electrified vehicles, especially Plug-In Hybrid Electric Vehicles (PHEVs). While 91% of Canadians still drive gas-powered cars, 51% of Gen Z and 54% of Millennials are eyeing PHEVs, driven by rising fuel costs and environmental concerns.
Key motivators include reducing fuel expenses and the flexibility of combining electric and gas power. Volvo’s fixed pricing model also appeals to younger buyers, who value price transparency over negotiation. Volvo continues to prioritize sustainability as it expands its electric vehicle offerings.
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