Tesla Lowers Model 3 and Model Y Prices in Canada
Tesla has made pricing adjustments to its high volume Model 3 and Model Y electric vehicles in Canada, effective as of October 19, 2023.
The Model 3 has seen a price reduction of $1,000 across multiple configurations. The Rear-Wheel Drive (RWD) version now costs $53,990, down from $54,990, while the Long Range version is priced at $63,990, down from $64,990. The Performance version remains unchanged at $73,290.
Similarly, the Model Y has experienced a $2,000 price cut. The RWD version is now priced at $57,990, down from $59,990. The Long Range version has been reduced to $67,990 from $69,990, and the Performance version is now $74,290, down from $76,290.
These price changes are expected to stimulate demand in Canada for Tesla’s fourth quarter. Both the Model 3 and Model Y qualify for provincial rebates as well as the federal iZEV rebate ($5,000), making them more financially accessible to consumers.
This would mean an entry Model 3 would be $41,990 in Quebec and entry Model Y would be $45,990, respectively after maximum rebates ($7,000 provincial rebate + $5,000 iZEV), for example. A gas-powered entry Honda CR-V costs $37,250 in comparison, but lacks the technological advances and gas savings offered by a Tesla.
Ordering a Tesla through a referral also saves an extra $250 USD off your purchase, plus gives free Full Self-Driving capability for 3 months.