Canada Drops 2035 Gasoline Car Ban

Market Intelligence Analysis

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Why This Matters

Canada is removing its 2035 ban on internal combustion engine cars and instead introducing new fuel efficiency standards and subsidies for electric vehicle purchases, worth up to C$5,000 per car.

Market Impact

Market impact analysis based on bullish sentiment with 80% confidence.

Sentiment
Bullish
AI Confidence
80%
Time Horizon
Short Term

Article Context

Note: This is a brief excerpt for context. Click below to read the full article on the original source.

The government of Mark Carney will remove a 2035 internal combustion engine car ban and instead boost incentives for electric vehicle purchases, media are reporting ahead of the formal announcement of a new automotive strategy later today. CTV cited unnamed sources from the government and car industry as saying that the Carney government will replace the ICE car ban with new - and likely tighter - fuel efficiency standards coupled with subsidies for EV buyers in the form of tax relief, to the tune of C$5,000, or $3,660, per car. The government…

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Original article published by OilPrice.com on February 5, 2026.
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