"Depreciation Dilemma: Electric Vehicles Take a Hit in Canada. A shocking new report reveals that four-year-old electric vehicles in Canada have lost nearly half of their original value, a staggering decline that far outpaces their internal-combustion-engine and hybrid counterparts. This trend raises questions about the long-term viability and affordability of electric vehicles, which were once touted as a sustainable and cost-effective alternative to traditional gas-guzzlers. As the market continues to evolve, experts are left wondering if the rapid depreciation of electric vehicles will deter consumers from making the switch to eco-friendly driving."
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.
