Tesla Cuts Prices in Canada for Model 3/Y, Model S/X

Tesla has reduced the prices of its entire vehicle lineup in Canada, mirroring recent price reductions in other markets such as the U.S, Europe and Asia-Pacific.

The price adjustments come as the automaker tries to boost demand amidst a challenging economic climate, with its Q1 earnings yesterday below Wall Street expectations, with both revenue and net profit down, along with deliveries.

Below are the updated prices and discounts for Tesla’s various models:

Model 3

• Rear-Wheel Drive (RWD): $50,990 (previously $53,990) – $3,000 discount
• Long Range: $60,990 (previously $63,990) – $3,000 discount

Both Model 3 trims are eligible for a $5,000 federal iZEV rebate and provincial rebates.

Model Y

• Rear-Wheel Drive (RWD): $53,990 (previously $54,990) – $1,000 discount
• Long Range: $63,990 (previously $64,990) – $1,000 discount
• Performance: $68,990 (previously $69,990) – $1,000 discount

All Model Y trims qualify for the $5,000 federal iZEV rebate as well, and provincial rebates too.

Model S

• All-Wheel Drive (AWD): $97,990 (previously $99,990) – $2,000 discount
• Plaid: $122,990 (previously $124,990) – $2,000 discount

Model X

• All-Wheel Drive (AWD): $107,990 (previously $109,990) – $2,000 discount
• Plaid: $128,990 (previously $130,990) – $2,000 discount

Despite global economic pressures that have impacted the auto industry, Tesla has fared relatively well, with plans to accelerate the production of more affordable models and focus on advancements in AI and robotaxi technologies.

This week, Tesla also debuted the new Model 3 Performance, based on its upgraded platform of its smaller electric sedan. The new Model 3 Performance starts at $69,990, with the Model Y Performance undercutting the latter by $1,000 (while the Model Y also qualifies for the federal rebate).