Rising Gas Prices Make the Case for the VinFast VF 8

Higher gasoline costs and renewed EV rebates are reshaping the car buying equation in Canada. For many drivers, the VinFast VF 8 could arrive at exactly the right moment.

MARKHAM, Ontario--(BUSINESS WIRE)--Canadian drivers are once again watching numbers climb at the pump. In early March, gasoline prices averaged about $1.41 per litre across the country, up from roughly $1.32 just over a week earlier, with some regions seeing increases of nearly 15 cents¹. Provinces such as British Columbia and Quebec are already well above the national average. Analysts expect prices to remain elevated for weeks and possibly months as seasonal fuel blends and global supply pressures take hold.

Historically, at times like this, drivers often rethink their vehicle choices. During the oil crisis of the 1970s, for example, smaller cars surged in popularity². When fuel prices rose again in the mid-2000s, consumers shifted toward hybrids and compact vehicles. The pattern repeats itself: higher fuel costs push people toward whatever option promises relief.

Today, however, there is a truly different and better alternative: electric vehicles. Instead of paying whatever price appears on the roadside sign each morning, EV owners draw energy from the grid, typically at a far more stable cost. Charging often happens at home while owners are sleeping, making trips to the gas station quietly disappear from the weekly routine.

“Once you switch to electric, you stop thinking about gas prices altogether,” said Toronto commuter David, who replaced his gasoline SUV with an EV last year. “You plug in at night, make sure it’s charging, and in the morning the car is ready.”

Meanwhile, government policy has once again created favourable conditions for going electric. The federal Incentives for Zero Emission Vehicles program offers rebates of up to $5,000 on eligible models, lowering the upfront cost for buyers who make the switch.

Among the EV models in Canada that qualify for federal incentives is the VinFast VF 8, a midsize electric SUV that sits within the rebate threshold and starts at around CA$53,600, below the national average price of a new vehicle. When combined with available provincial incentives and credits, Canadian customers can receive up to $18,000 in total rebates and savings. This brings the effective starting price of the VinFast VF 8 down to about $35,070 after eligible credits.

The operating math strengthens the case.

Assume a typical Canadian driver travels about 20,000 kilometres per year. A comparable gasoline SUV averaging 9.8 litres per 100 kilometres would consume roughly 1,960 litres annually. At an average gasoline price of about $1.41 per litre, that adds up to roughly $2,764 in fuel costs each year.

An electric SUV like the VF 8 consumes about 28.7 kWh per 100 kilometres. Over the same distance, that equals roughly 5,740 kWh. With electricity averaging about $0.12 per kWh across Canada, annual charging costs come to around $689. The difference amounts to about $2,075 in yearly savings.

Those savings compound over time, especially as fuel prices fluctuate. EV drivers also avoid routine expenses such as oil changes and several engine related maintenance items.

The VF 8 also addresses a common hesitation among first time EV buyers: long term reliability. VinFast backs the vehicle with a 10-year or 200,000-kilometre warranty, along with a 10 year unlimited kilometre battery warranty under normal use, coverage that exceeds what many automakers offer.

For Quebec owner Patrick, that guarantee played a decisive role. “The 10-year warranty feels like a safety net that lets me try something new,” he said after purchasing his VF 8.

Charging access has also improved significantly in recent years. Through integrated apps and partnerships with existing networks, VinFast drivers can connect to more than 100,000 public charging points across North America, easing concerns about long distance travel.

Put together, the EV-favorable stars appear to be lining up. Fuel prices are climbing again, incentives are back on the table, and electric vehicles are becoming more practical and accessible each year. For Canadians planning their next vehicle purchase, this may be the moment to seriously consider going electric, perhaps with a VinFast VF 8.

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^1 https://driving.ca/auto-news/driver-info/canada-gas-prices-rise-fuel-pump-iran

^2 https://autos.yahoo.com/ev-and-future-tech/articles/gas-prices-going-mean-electric-110000040.html