Tesla to Increase Prices in Canada on Feb. 1: Here are the Changes

Tesla has announced price increases across its lineup in Canada, effective February 1–and it’s not pretty, according to the breakdown by Tesla North.

The changes will impact all trims of the Model 3, Model Y, Model S, and Model X, with the increases linked to the weakening Canadian dollar and higher costs compared to U.S. pricing. Interestingly, the Cybertruck doesn’t mention any price increases. It’s already pricey starting at $137,990 CAD.

Here are the Tesla price increases coming on February 1–the breakdown is as follows:

• Model 3
  • RWD: +$4,000 (from $60,990 to $64,990 CAD)
  • Long Range RWD: +$4,000
  • Long Range AWD: +$8,000
  • Performance: +$9,000
• Model Y (all trims): +$4,000
• Model S (all trims): +$4,000
• Model X (all trims): +$4,000

For context, the U.S. price of the Model 3 RWD right now is $42,990 USD. The current CAD price is $55,990, but with the $4000 increase coming on February 1, it goes to $59,990 CAD. Convert this to USD based on today’s exchange rates and you get a price of roughly $41,778 USD, which is pretty close to US pricing.

The falling Canadian dollar is not helping right now and we could see more prices increase locally due to exchange rates (like maybe your iPhone 17 soon).

With Tesla recently increasing prices, on top of the federal iZEV rebate ($5,000) running out of money, buying a new Tesla is getting more expensive in Canada. It will be interesting to see how many people will be willing to plunk down cash for a new Tesla with these price increases (leaving politics out of the equation).