With Fading Rebates, EVs like VinFast's VF 8 Offer Rare Value in 2025
MARHAM, Ontario--(BUSINESS WIRE)--May 27, 2025--
With the federal EV rebate now ended and Quebec still offering up to $4,000 in 2025, Canadians eyeing electric vehicles—like the VinFast VF 8—face a narrowing but still lucrative window of opportunity as provincial incentives tighten and the market shifts toward long-term policy.
The federal iZEV Program, which once offered up to $5,000 in rebates for qualifying zero-emission vehicles, has recently ended after its successful run. Several provinces maintain their own incentives - Quebec provides up to $4,000 in rebates in 2025, which can significantly reduce the purchase price of a new EV.
These programs are evolving as the EV market matures. Provincial rebates are being adjusted yearly, with some scheduled to decrease through 2027. This follows a global pattern where EV support is transitioning from early adoption incentives to more sustainable long-term policies. Germany adjusted its subsidies in 2023, while the UK has shifted its focus to expanding charging infrastructure.
The incentives window are closing
A recent AutoTrader survey reveals that 68% of potential EV buyers consider government incentives in their purchase decision 1. As these incentives shift, consumers may need to adapt their strategies, particularly in provinces with generous but changing rebate structures.
The same AutoTrader survey shows 42% of Canadians are considering an electric vehicle for their next purchase. While this represents a slight adjustment from previous years, it signals a maturing market moving beyond early adopters.
Price parity remains a consideration. AutoTrader's research shows EVs typically cost 15-20% more than comparable gas-powered models upfront. In provinces with robust incentives like Quebec, these financial supports help bridge this gap while the industry continues to advance toward natural price competitiveness. Even in provinces without substantial rebates, the long-term ownership economics are improving as charging infrastructure expands.
For Canadians across the country, particularly in Quebec where provincial rebates remain among the strongest, the current incentive landscape creates a favorable window for EV purchases. With potential savings of several thousand dollars depending on location, the financial advantages in 2025 are substantial for eligible vehicles.
The current incentive landscape creates varying opportunities across different provinces. In Quebec, where the VF 8 qualifies for CAD$4,000 provincial rebates 2, buyers have a particularly strong financial case. And the timing remains an important factor. A Quebec family buying in 2025 could benefit from current rebate levels that may be adjusted in coming years. These savings can be significant - potentially equal to several monthly car payments.
The opportunity for VF 8 buyers
The VF 8 from VinFast, Vietnam's best-selling car manufacturer last year, is an affordable premium midsize crossover designed to meet the needs of today's EV buyers. It offers 349-402 hp of power, depending on the configuration, and comes standard with all-wheel drive, making it well-suited for challenging winter conditions across Canada.
With a range of 380-412 kilometers, the VF 8 addresses common concerns about distance, while its fast-charging capability allows the battery to go from 10% to 70% in about 31 minutes at compatible stations.
Advanced safety and driver assistance features come standard, including lane keeping, collision avoidance, adaptive cruise control, and 11 airbags positioned strategically to provide protection to everybody onboard.
The VF 8 also offers long-term peace of mind with a vehicle warranty that extends up to 10 years or 200,000 kilometers. Altogether, it represents exceptional value and showcases how EVs have evolved to meet Canadian expectations.
The road ahead
For Canadians considering an electric vehicle, 2025 represents a favorable alignment of factors: technology has matured, range capabilities meet most driving needs, charging infrastructure continues to expand, and provincial incentives remain available in key markets like Quebec and British Columbia.
Beyond 2025, the EV landscape will continue to improve with more models, better technology, and expanding infrastructure nationwide. While provincial incentive structures may evolve, particularly in Quebec where they are currently most generous, the overall trajectory toward electric mobility remains strong. Those considering the switch to electric will find regional advantages in 2025, with Quebec currently offering the most favorable combination of incentives and technology readiness that makes the transition both practical and economical.
1https://edmontonjournal.com/news/local-news/heres-why-electric-vehicle-sales-have-dropped-across-canada-for-the-third-year-in-row#:~:text=A%20new%20survey%20from%20AutoTrader,contributed%20to%20the%20downward%20trend
2https://www.quebec.ca/en/transports/electric-transportation/financial-assistance-electric-vehicle/new-vehicle/list-of-eligible-new-electric-vehicles?id=25738&tx_solr%5Bfilter%5D%5B%5D=modele%3AVF8__VinFast&tx_solr%5Bq%5D=&tx_solr%5Bpage%5D=1
View source version on businesswire.com:https://www.businesswire.com/news/home/20250527745842/en/
John Lindo –[email protected]
KEYWORD: NORTH AMERICA CANADA
INDUSTRY KEYWORD: AUTOMOTIVE GENERAL AUTOMOTIVE AUTOMOTIVE MANUFACTURING EV/ELECTRIC VEHICLES MANUFACTURING ALTERNATIVE VEHICLES/FUELS
SOURCE: VinFast
Copyright Business Wire 2025.
PUB: 05/27/2025 06:00 AM/DISC: 05/27/2025 05:59 AM
http://www.businesswire.com/news/home/20250527745842/en
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