"Depreciation Dilemma: Electric Vehicles Lose Value at Alarming Rate in Canada A shocking trend has emerged in the Canadian automotive market, with electric vehicles (EVs) depreciating at an alarming rate. According to recent data, four-year-old EVs in Canada are now worth less than half of their original purchase price, a staggering decline that outpaces their internal-combustion-engine and hybrid counterparts. This rapid loss of value raises questions about the long-term sustainability of EVs as a viable option for environmentally conscious consumers, who often rely on the promise of lower operating costs to offset the higher upfront costs of these vehicles. As the market continues to evolve, will the depreciation of EVs become a major obstacle for their widespread adoption?"
In 2025, four-year old electric vehicles in Canada were worth less than half of what they were purchased for, far less than internal-combustion-engine vehicles or hybrids.
