More Price Cuts for Tesla’s Fearsome Foursome
Tesla has once again revised Canadian pricing for its entire lineup starting with the popular Model 3 compact sedan and Model Y compact SUV.
The former is down $1,000 across all trim levels. The base single-motor Model 3 Standard Range (438 km) now costs $53,990, while the dual-motor Model 3 Long Range (534 km) and Model 3 Performance (507 km) stand at $63,990 and $73,290, respectively. Only the last one is ineligible to the federal government’s $5,000 EV incentive.
- Also: 2024 Tesla Model 3 Now Available in North America
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This is likely an attempt by Tesla to drive sales before the refreshed 2024 Model 3 (which is already available overseas) goes on sale in Canada. The car features new bumpers, headlights and taillights, new wheels, an even bigger touchscreen, a quieter and more comfortable interior, higher-quality materials and improved infotainment and connectivity functions. Oh, and extra trunk space, too.
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When it comes to the Model Y, prices are now $2,000 lower. The base single-motor Model Y Standard Range (394 km) starts at $57,990. In dual-motor configuration, the Model Y Long Range (497 km) and Model Y Performance (459 km) carry a tag of $67,990 and $74,290, respectively. Again, only the last one fails to qualify for the federal government’s $5,000 EV rebate.
Back in July, Tesla CEO Elon Musk called the current economy “turbulent times” and hinted at more price cuts in the second half of 2023.
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“We had to do something about that,” Musk said, referring to the increasing interest rates (Tesla’s are as high as 7.35 percent). “Buying a new car is a big decision for the vast majority of people, so any time there’s economic uncertainty, people generally pause on new-car buying at least to see what happens.”
What about the Model S and Model X? Tesla’s more expensive vehicles are the beneficiaries of the largest price cuts—anywhere from $18,000 to $26,000. The Model S Standard Range (515 km) that was added this summer has disappeared from the Canadian online configurator, but who cares: the dual-motor Model S (652 km) can now be had from just $99,990, which also means the federal luxury tax no longer applies. Meanwhile, the ludicrous Model S Plaid (637 km) has a new MSRP of $124,990.
The Model X crossover costs either $109,990 or $130,990 depending on the trim level.