VinFast says used EV sales outpace gasoline vehicles in Canada, boosting secondhand market confidence
VFS•VinFast cited improving conditions in Canada’s used EV market, where vehicles sold in a median 24 days in June and 23 days in July, faster than used gasoline vehicles. It also cited lower charging costs, battery-life estimates and its certified pre-owned warranty program.
1. Used EV market
VinFast said used EVs are turning over faster than used gasoline vehicles in Canada, with median sale times of 24 days in June and 23 days in July. Rates.ca estimated that charging an EV for 20,000 km annually in Ontario costs 14% to 18% as much as fueling a comparable gasoline vehicle.
2. Battery life and warranties
VinFast cited Geotab’s estimate of average EV battery degradation of 1.8% a year and a Nature Energy estimate that battery-electric vehicles have an 18.4-year lifespan. The company highlighted its Canadian certified pre-owned program, which transfers unused coverage under a 10-year, 200,000-km vehicle warranty; the battery warranty lasts 10 years with unlimited kilometres.
