Tesla Slashes Prices Again, This Time on Model S, Model X Only

Published on April 7, 2023 in Electric by Guillaume Rivard

Tesla made plenty of headlines in January when it slashed prices on all of its vehicles in Canada and the U.S. This came after the electric vehicle manufacturer failed to meet its delivery forecast for 2022 and lost two-thirds of its market value.

Well, guess what? Tesla is doing it again.

The bad news is that only the most expensive models in the lineup are affected in Canada. The base MSRP of the Model S sedan has been cut from $122,990 to $116,990, while the explosive Model S Plaid is down from $149,990 to $143,990. It’s a drop of $6,000 in both cases.

Photo: Tesla

By comparison, the Model S’ biggest rival, the Porsche Taycan, currently ranges from $125,600-$217,800.

The price cuts are even more substantial when it comes to the Model X crossover, which has gone from $142,990 to $130,990 in base trim. The Model X Plaid now costs $143,990 instead of $156,990.

Photo: Tesla

Unfortunately, prices for Tesla’s most popular and most affordable models have not changed. The Model 3 compact sedan still carries the $54,990 MSRP it got in January, making it eligible to the federal government’s EV rebate of $5,000. The Performance variant also remains at $72,990.

Pricing for the Model 3 Long Range, which will be available later in 2023 with up to 576 km of range, has yet to be announced.

Photo: Tesla

As for the Model Y compact crossover, it continues to be listed at $69,990, while the Performance variant retails from $75,990.

The good news for Model 3 and Model Y customers is that Tesla’s delivery times are much shorter than those of some of the competition. A unit ordered today could be delivered as early as this spring, according to Tesla’s online configurator.

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