Juno News - Kris Sims and Dan McTeague break down a major policy reversal from Prime Minister Mark Carney

Chris and Dan discuss the announcement by the Bank of Canada that 20% of all new vehicle sales in Canada will have to be battery-powered by 2026, and the implications for the automotive sector. They also discuss the palace intrigue surrounding the Prime Minister's announcement.

00:00:00.000 Dan, I got to just take, can we take a little bit of a victory lap for a second here?

00:00:04.600 Like, the war is not over, but I think we blew up a bridge and cut off like two of their supply lines here.

00:00:10.780 Are you happy to see that this so-called EV mandate is at least being staved off for another year? 0.97

00:00:17.040 Yeah, I'm just surprised that they are too daft or perhaps too arrogant to suggest this was bad policy to begin with. 0.93

00:00:23.240 Chris, you and I talked about this for years and knew it was going to wind up in this position. 0.95

00:00:28.520 the fact that Kearney seems to be undoing everything that Justin Trudeau and Guybeau

00:00:34.540 and McKenna did over the past 10 years isn't surprising that he is not prepared to make a

00:00:39.900 declaration to kill it off completely I think is going to leave to more concern from auto

00:00:45.960 manufacturers parts industries as well as dealers across this country that this this bad smell

00:00:52.880 hanging around everything is just going to continue going for some time potentially destroying

00:00:57.560 the automotor sector as we understand it.

00:01:00.100 So you mentioned a couple of names there,

00:01:01.980 and I want to get to the palace intrigue in Shea Liberal in a second

00:01:05.580 because I just can't resist it.

00:01:07.360 But let's stay with the nuts and bolts here.

00:01:10.300 So as I can tell from reading the articles,

00:01:13.020 so as of right now, if you just woke up, okay,

00:01:15.600 if you've been napping,

00:01:17.380 before Carney made this announcement on Friday,

00:01:21.180 starting in 2026,

00:01:23.440 20% of all new vehicle sales were going to have to be

00:01:27.460 battery-powered vehicles, meaning this is going to directly affect gas and diesel-powered vehicles

00:01:33.180 and ultimately end with an entire government ban on the sale of new, normal, I would describe,

00:01:40.400 cars and trucks in Canada. So this was already affecting the market, Dan. It was already messing

00:01:45.200 things up at car dealership lot levels. These things weren't moving naturally. I think in the

00:01:50.020 latest quarter, didn't the natural demand and sale of EVs drop to like 8% or 9%?

00:01:55.780 That's right. Down 40% from the second quarter of this time last year. Those numbers just came

00:02:01.220 out. I see that my friend Paul Vieira has sent me something suggesting that the numbers have

00:02:06.660 pretty much cratered. And that's not just a reflection of concern. It's a reflection of the

00:02:12.700 fact that those who mooch or need subsidies to buy these things aren't getting them now. Therefore, 0.88

00:02:18.480 they're not going to buy them. And no one of the right mind would buy them. They're not a very

00:02:21.800 effective vehicle. I mean, I've been in the automotive industry. I understand electricity.

00:02:25.760 My family's been in it for about 80, 90 years in Whitby, Ontario, McTagg Electric, by the way.

00:02:30.560 And I've worked in the automotive sector. This just doesn't make sense. It didn't five years ago.

00:02:35.400 It sure as hell isn't going to be going forward. So maybe a reprieve, but I think for a lot of

00:02:40.020 people, those numbers are just too impossible to ignore.

Juno News - September 08, 2025

Kris Sims and Dan McTeague break down a major policy reversal from Prime Minister Mark Carney

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