EV depreciation in Canada, without the scare quotes

In an 18 April 2025 note, Canadian Black Book put average four-year EV residuals at 58.45% of original value, versus 63.53% for comparable gas vehicles. EV residuals had dropped 5.6% year over year, versus 3.9% for similar ICE vehicles. Compact EVs under $55k sat at 55.75% (Nissan Leaf best in that slice).

The September 2025 CBB / Fitch depreciation report said four-year-old battery-electrics were down 14% year over year - the sharpest powertrain move in that book, blamed on supply and fast tech turnover.

Those CBB pages still talk about iZEV pausing in January 2025. Federal EVAP has been live since 16 February 2026 for qualifying new vehicles. Use CBB for residual math, not as a rebate explainer. Current rules: EV rebates by province.

A separate consumer-facing roundup we already cite on the used-EV checklist (Canada Drives / Clutch) talks about many mainstream EVs losing roughly 60% of MSRP by year five, versus about 45% for vehicles overall. That is a different window and a different methodology than CBB's four-year residual. Directionally they agree: EVs have been softer than gas. They are not the same number, so do not average them.

CBB's February 2026 outlook expected used-vehicle depreciation around 14.5% overall and EVs to make up about 11% of used supply as off-lease cars return. That is a reset, not a law of physics. Battery-health paperwork, software, and whether the trim still looks current matter more than the word “electric.”

• Buying new and keeping 8–10 years. Fuel, insurance, and tires dominate. Run the TCO calculator; then remember resale is extra risk, not extra savings.
• Buying new and selling at year three. Model a weaker residual than a comparable RAV4 Hybrid. EVAP on the way in does not come back on the way out.
• Buying used. You are on the other side of that residual gap. Confirm battery health and skip the federal-rebate fantasy - used EVs do not get EVAP. Checklist: used EV buying.

• EV battery care: simple charging habits that actually helpDaily charge targets, when 100% is fine, how much DC fast charging matters, and what Geotab’s real-world degradation data says - without the myths.
• What to do in your first week with an EV in CanadaA practical delivery-day through day-seven checklist: charging setup, tire pressure, software updates, apps, and the first service habits that matter more than an oil change.
• Hyundai and Kia EV maintenance in CanadaHyundai Canada’s schedule is time or kilometres, whichever comes first - look up your VIN. Cabin filters, tire rotation, and brake inspections still apply; there is no oil change.