Repeal the EV mandate. It could be done today, and it would have an immediate benefit to the automotive industry.
Under the mandate, if companies don't hit the mandated targets, they have two options. One is to purchase credits from other companies, notably companies that are not invested here in Canada. Our estimate is that will cost the industry about $3.6 billion between now and 2030.
The second option is to pull vehicles from the market. There are 700,000 to 900,000 new vehicle sales pulled from the Canadian market every single year. For a Canadian customer looking to buy a car, it means there will be fewer on the lot and that the prices will be higher.
The pressure on the industry is originating from U.S. trade policy. It's effectively an own goal. There's no other way to put it. We can provide relief to the sector, but instead, we're keeping this punitive regulation in place, which is highly costly at the worst possible time.