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Resale values in Canada cooled throughout late 2024 and into 2025 as listings grew, incentives normalized, and buyers became choosier. The shift wasn’t uniform: electric vehicles saw the sharpest markdowns as inventories swelled and demand tempered. Several luxury sedans and premium SUVs also slipped as shoppers prioritized operating costs and reliability. Here are 23 vehicles that lost the most resale value in Canada this year.
Tesla Model S
23 Vehicles That Lost the Most Resale Value in Canada This Year
Used Model S values fell faster than the overall market, reflecting a one-two punch of higher supply and shifting brand sentiment. North American trackers put the Model S among the steepest year-over-year decliners in 2025, with mid-teens percentage drops showing up in monthly snapshots. In Canada, price volatility was compounded by tariff headlines and inventory clear-outs, which nudged asking prices down to keep cars moving. For shoppers, that means compelling deals on higher-spec 2021–2023 cars, but also increased caution around battery warranty status and software feature transfers. For sellers, expect longer days-to-sell unless pricing is aggressive.
Tesla Model X
The Model X tracked the Model S down, with large-ticket EVs absorbing outsized depreciation as buyers favored smaller, cheaper electrics or efficient hybrids. Listings data show deeper-than-average markdowns to clear higher-mileage 2018–2021 units, especially those out of basic battery warranty. Practical factors, falcon-door maintenance perceptions, insurance costs, and range degradation anxiety, magnify the hit on older units. If you’re buying used, you can capture five-figure depreciation in your favor; if you’re selling, pricing to the sharp end of comparable Canadian listings and highlighting maintenance records is essential.
Tesla Model 3
Once the resale darling, the Model 3 slipped below the wider used-market average price in 2025 according to price trackers. In Canada, tariff noise and shifting consumer interest created uneven demand by province, with larger metro inventories putting pressure on resale. The abundance of ex-lease cars and frequent new-vehicle price adjustments further undercut used values. Buyers can find sub-$30k cars with decent range; sellers should expect more negotiation and benefit from recent tires, a clean Carfax, and transferable Supercharging details.
Tesla Model Y
The Model Y, Canada’s most visible EV, also saw resale soften, though less dramatically than the flagship Teslas. Still, year-over-year declines have been meaningful as supply swelled and some shoppers deferred EV purchases amid policy and charging-infrastructure debates. Expect the sharpest drops on early Long-Range AWD builds with higher mileage and on units missing winter tire packages or heat-pump service history. So, if you’re trading in, shop multiple offers; book values have struggled to keep pace with rapid retail repricing.
Nissan Leaf
Two Canada-specific realities pressured leaf resale: CHAdeMO fast-charging scarcity and shorter-range trims that feel dated next to newer mainstream EVs. As more long-range competitors entered used listings, Leafs required deeper discounts to move, especially the 40-kWh cars. Inventory is ample in major urban markets, which further compresses prices. For buyers, that means inexpensive commuter EVs; for sellers, range-health documentation (SOH reports) matters more than ever.
Chevrolet Bolt EV / Bolt EUV
Bolts deliver excellent efficiency, but charging-speed limitations and battery-recall stigma tugged on resale through late 2024. As more post-recall units hit the market, values adjusted downward to entice cautious shoppers. In Canada, an abundant supply in urban centers and fierce cross-shopping with Model 3s and Kona Electrics kept used prices under pressure. Good news if you’re buying: you can land low-mileage EUVs for less than you’d expect. Sellers need pristine recall paperwork and charging-history transparency to defend price.
Ford Mustang Mach-E
The Mach-E entered 2025 facing a more crowded EV marketplace in Canada, with competitors like the Model Y, Ioniq 5, and EV6 often priced aggressively. Its resale value dipped as supply outpaced demand, particularly for Extended Range AWD trims. Winter range performance and charging consistency remain concerns for some buyers, further softening interest in earlier builds. Fleet returns also increased market availability, adding pressure to lower asking prices. Also, to protect resale, sellers should highlight over-the-air updates, battery warranty status, and extras like winter wheels, which remain important in Canadian climates.
Volkswagen ID.4
The ID.4 saw a modest but steady decline in resale values as earlier 2021–2023 models cycled off leases into Canadian dealer inventories. Software glitches and slower charging speeds compared to Korean rivals have been sticking points for used buyers. AWD variants with heat pumps hold value better than base RWD trims, which see steeper markdowns. Urban markets like Toronto and Vancouver have higher inventories, intensifying price competition. Buyers benefit from generous feature sets at lower prices, while sellers face a crowded resale field and need to stand out through condition and maintenance records.
Hyundai Ioniq 5
Despite strong owner satisfaction and positive reviews, the Ioniq 5 faced downward pricing pressure in late 2024 and early 2025 as inventory rose. The rapid pace of tech improvements made older builds comparatively less desirable, and newer models often come with better range or charging upgrades. Canadian resale remains strongest for Preferred Long Range AWD variants, especially with winter packages. However, high supply in larger metro areas means sellers often must discount to compete. Buyers are in a good position to negotiate, especially if they are flexible on color and trim options.
Kia EV6
The EV6 mirrored the Ioniq 5’s trajectory, with high supply levels and new-model updates impacting resale values. Many Canadian buyers are cross-shopping it against discounted Tesla models and newer Korean EVs with upgraded features. GT-Line AWD trims, once commanding strong resale prices, have seen notable depreciation compared to 2023 levels. The resale market remains competitive, particularly in Ontario and B.C., where dealer stock is plentiful. Sellers should emphasize battery health reports and driver-assist features to justify pricing, while buyers can find attractive deals on low-mileage 2022–2023 models.
Audi e-tron / Q8 e-tron
Audi’s premium electric SUVs lost ground in resale as operating costs and winter range performance became sticking points for second-hand buyers. Earlier e-tron models with lower range are less appealing compared to newer Q8 e-trons and rival EV SUVs. In Canada, high-mileage units and those lacking a heat pump face the steepest price drops. Buyers benefit from luxury features at mid-range SUV prices, but should be mindful of warranty coverage on expensive components. Sellers should expect more negotiation and longer listing times unless pricing aligns with the most competitive offers in the market.
Jaguar I-Pace
The I-Pace struggled to hold value due to limited Canadian dealer support and expensive repair parts. Range limitations in cold climates and outdated infotainment compared to newer EVs make earlier models harder to move. Auction data shows significant markdowns for units without full maintenance histories. While buyers can acquire luxury EV performance at a fraction of the original MSRP, sellers face a niche audience. In urban markets, a well-maintained, low-mileage I-Pace can still command fair value, but the broader trend remains one of softening resale and increased buyer leverage.
Mercedes-Benz EQS
The EQS sedan entered the used market in greater numbers in late 2024, coinciding with more competitive EV luxury offerings from BMW, Lucid, and Tesla. Depreciation accelerated as Canadian buyers questioned long-term reliability and out-of-warranty repair costs for a tech-heavy luxury sedan. While still desirable to a niche group, the buyer pool is small, particularly outside major cities. Sellers with well-optioned, low-kilometer cars can still do reasonably well, but most will need to discount to compete. Buyers benefit from premium features at prices far below the original MSRP.
BMW 7 Series (G11/G70)
Full-size luxury sedans like the BMW 7 Series faced continued resale challenges in Canada due to limited demand and high ownership costs. Black Book’s 2024 data showed steady weekly declines for the segment, with depreciation particularly pronounced for older, high-spec trims. Plug-in hybrid versions perform slightly better in markets like Toronto, where fuel savings appeal to business drivers. Still, the model’s expensive maintenance, large size, and narrower audience keep resale under pressure. Buyers with the budget for upkeep can secure substantial value, while sellers should prepare for a longer sales process.
Mercedes-Benz S-Class
The S-Class remains a technological benchmark, but in the Canadian resale market, it suffers from the same issues as the BMW 7 Series: high running costs, complex features, and limited second-owner demand. Lease returns in 2024 increased used inventory, particularly for well-optioned 2021–2022 models. While urban luxury buyers remain interested, they are quick to negotiate aggressively. Sellers will find better traction with impeccable service histories, preferably from authorized dealers. Buyers can enjoy top-tier luxury at a fraction of new-car prices, provided they budget for potential repair expenses.
Maserati Ghibli
The Ghibli’s stylish design and performance appeal haven’t been enough to protect its resale in Canada. Limited dealer coverage outside major cities makes servicing a concern, and high parts costs deter second-hand buyers. Depreciation accelerated as more off-lease models entered the market, with wholesale guides adjusting downward to reflect reconditioning risks. Some trims hold slightly better in major metro areas where the Maserati presence is stronger. Buyers can score Italian luxury at mid-tier sedan prices, but sellers will likely need to negotiate heavily to finalize a deal.
Alfa Romeo Giulia
The Giulia’s resale suffered from ongoing perceptions of reliability concerns, even as later models improved. Sparse dealership coverage in Canada outside major cities limits appeal, and buyers often choose more established German rivals. Early build years see the steepest markdowns, especially for high-performance Quadrifoglio trims with expensive maintenance needs. Sellers benefit from targeting enthusiast buyers who value the Giulia’s driving dynamics, but they remain a small audience. Buyers open to unique styling and performance can find bargains compared to original purchase prices, especially on low-kilometer examples.
Land Rover Discovery
The Discovery’s depreciation reflects the broader softening of luxury SUV values, with reliability perceptions influencing second-hand demand. Air suspension and complex electronics raise ownership-cost concerns, especially as warranties expire. Canadian resale has been stronger for newer, low-mileage units, but older examples see deeper discounts. Sellers with full-service documentation can improve marketability, while buyers should budget for potential maintenance surprises. In areas like Alberta and B.C., where off-road capability is valued, demand holds slightly better, but nationwide trends point toward sustained price pressure for used Discovers.
Range Rover Velar
While the Velar’s design and interior quality remain standout features, resale values have slipped as buyers compare it to larger Range Rover models available through Certified Pre-Owned programs. Older models, especially 2018–2019 units, face the largest depreciation due to infotainment and reliability updates in newer versions. Inventory is highest in urban luxury markets, increasing competition and pushing prices down. Buyers can find well-equipped Velars at reduced prices, while sellers may need to emphasize unique trims, colours, or low mileage to attract attention in a crowded premium SUV segment.
Volvo S90
The S90 competes in a shrinking full-size sedan segment in Canada, limiting its resale potential. While it offers excellent comfort and safety, market demand has shifted heavily toward SUVs. Plug-in hybrid variants fare better, particularly in cities where EV incentives extend to used models. Still, older gasoline-only models experience sharper depreciation. Buyers benefit from luxury features at lower prices, but sellers must contend with slower turnover. Targeting niche buyers, such as those seeking Scandinavian design and safety, can improve selling odds in an otherwise challenging resale environment.
Infiniti Q50
The Q50’s resale decline has been driven by dated interior tech and competition from both luxury and well-equipped mainstream sedans. Heavy discounting on new Q50s in 2024 pushed used prices lower in Canada. Older trims without advanced driver-assist features are especially affected. In urban centres, clean, low-kilometer examples still sell well, but the days of holding strong residual value are past. Buyers can secure affordable entry-luxury performance, while sellers should focus on recent maintenance and accident-free histories to stand out in listings crowded with similar options.
Genesis G80
Genesis has grown quickly in Canada, which has improved awareness but also increased supply in the resale market. Early G80 models now face pricing pressure from newer versions with updated tech and improved efficiency. Aggressive new-car incentives in 2024 undercut used pricing further. Well-maintained models with higher trim levels, like the Prestige, retain value better, but most sellers will need to price competitively. Buyers can find premium comfort and equipment for less than many mid-tier German rivals, making it a strong value in the current used-luxury sedan market.
Jeep Compass (current gen)
A mid-cycle price drop on the 2025 Jeep Compass directly affected used-vehicle resale values in Canada. When the new MSRP falls, late-model used prices must adjust downward to remain attractive. Mid-trim models like the North and Altitude saw the largest percentage drops in dealer listings after this change. While the Compass offers decent capability for its size, competition from newer small SUVs with better efficiency and tech features has softened demand. Buyers now have more leverage to negotiate, while sellers need to price aggressively to move inventory.
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