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Tesla Model S Price Drop: Up to $6,000 in Canada [Update]

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As noted by the folks over at Tesla North, a price drop quietly debuted for the Tesla Model S sedan in Canada for both its Long Range Plus and Performance versions, by up to CAD $6,000. The price drops were also in the United States, China and other markets as well.

Model S

The price drop, announced overnight, is said to be aimed at encouraging more sales of the Model S, as Tesla aims to hit 500,000 vehicles produced in a single calendar year. Below are the updated prices of the Model S in Canada:

  • Model S Long Range Plus – CAD $101,990 (was $105,990; -$4,000 CAD)
  • Model S Performance – CAD $124,990 (was $130,990; -$6,000 CAD)

The last time we saw a Model S price drop was back in May. That’s an $11,000 CAD drop for the Long Range Plus and a $13,000 CAD drop for the Performance, in a span of five months.

Tesla CEO Elon Musk recently said in a leaked email that the company is looking to surpass the production of half a million cars for 2020.

“When we started Tesla just over 16 years ago, I never thought we would get this far, but, thanks to your hard work and ingenuity, we actually have a chance of making half a million cars in a single year. Wow, that is so incredible!!” Musk wrote.

Meanwhile, Tesla stock continues to soar and is currently trading at $463.38 per share as of writing.

Update Oct. 14: Elon Musks says the Model S will see another price drop tonight, down to $69,420 USD.

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