"Depreciation Dilemma: Electric Vehicles Lose Value Faster Than Expected in Canada A recent study has revealed a concerning trend in Canada's electric vehicle market, with four-year-old EVs losing a staggering amount of value. According to the data, electric vehicles in Canada are worth less than half of their original purchase price, a phenomenon that is outpacing the depreciation of their internal-combustion-engine and hybrid counterparts. This unexpected drop in value raises questions about the long-term feasibility of electric vehicles as a viable option for Canadian consumers, who may be hesitant to invest in a vehicle that could lose significant value in a short span of time. As the demand for eco-friendly transportation continues to grow, the electric vehicle market in Canada will be closely watched to see if this trend persists or if manufacturers can find ways to mitigate the depreciation of their products."
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.
