An Overview of 2026 Electric Vehicle Pricing for the Canadian Market

• Automakers are trying to adapt to new market realities such as tariffs and reduced government incentives.

• EV sales and their market share have dropped significantly in Canada since the end of 2024.

• Numerous new EVs see 2026 as their first model year, but the Acura ZDX, the Genesis G80 EV, the Kia EV6 and the Volvo EX90 will not return.

Automakers have different strategies to cope with new market realities, as their Canadian pricing structures for 2026 can attest.

Indeed, about as many EVs will see an increase in their base price for the 2026 model year as those which will see a decrease.

Often, two models from the same manufacturer go in a different direction, price-wise, compared to the 2025 model year.

These changes come as automakers attempt to adapt to the sharp decline in the adoption rates of electric vehicles since the end of 2024.

December 2024 was the last month when the $5,000 federal clean vehicle incentive was available to buyers, which explains why that month was particularly good for EV sales.

In fact, electric vehicles made up 13.9% of all new vehicle sales in the last quarter of 2024, but just 5.4% in the second quarter of 2025, the last quarter for which Statistics Canada has published data.

The Quebec provincial incentive was also significantly reduced, from a maximum of $7,000 to $4,000, and it is expected to drop further to $2,000 on January 1, 2026.

Not helping matters is the trade war between Canada and the United States, which creates a lot of economic uncertainty and makes EVs made in the U.S. that don’t comply with CUSMA prohibitively expensive to sell in Canada.

Ottawa says it will bring back some form of an incentive for zero-emission vehicles, but we don’t know when, and we don’t know how much buyers will be able to get back on their purchase.

Therefore, automakers are trying to price their vehicles in order to both encourage sales and make a profit. Here is how most automakers are going about it.

Acura

The brand’s only electric model, the ZDX, will not return in 2026. This SUV, built in Tennessee by General Motors, will have been offered in Canada for a single model year. Acura is working on a new generation of EVs designed and engineered in-house, the first of which will be the upcoming RSX SUV-Coupe.

Audi

While we don’t have information about the price of the 2026 Audi Q6 e-Tron mid-size electric SUV (priced from $83,895 in 2025), we know the smaller Q4 e-Tron will start at $63,440, essentially the same as it did in 2025. We don’t know either how much the 2026 A6 e-Tron will cost (priced from $87,095 in 2025), but the e-Tron GT will be about $2,000 more expensive, at $168,940.

BMW

The entry-level i4 sedan is $10,000 more expensive in 2026, with a new base price of $68,223, but the larger i5 stays pretty much the same, priced from $86,933. The i7 luxury sedan sees a modest hike of about $2,500 to $168,559, and the iX SUV, which got a mid-cycle refresh for the new model year, now costs $93,133, or almost $8,000 more than last year. Pricing for the 2027 iX3, the first model from BMW’s Neue Klasse EVs, has yet to be announced, but this model should arrive towards the middle of the year.

Cadillac

The smallest electric vehicle in Cadillac’s fleet, the Optiq, sees its base price reduced by $2,600, down to $60,825. The larger Lyriq goes in the opposite direction, showing an increase of $2,900 to $73,825. The midsize three-row Vistiq is new for 2026, at $96,425, and so is the full-size Escalade IQL, at $164,325. The regular-size Escalade IQ was introduced last year with a base price of $160,825, which still stands in 2026.

Chevrolet

Staying at General Motors, Chevrolet has raised the price of the Equinox EV by $1,200 to $49,625, which will leave room for the Bolt EV, returning as a 2027 model priced from $43,425. The same $1,200 increase is also applied to the mid-size Blazer EV, bringing the price up to $59,125. In 2026, the Silverado EV pickup truck will keep its $67,625 base price.

Dodge

Dodge hasn’t released pricing information for the 2026 Charger Daytona EV, but it has confirmed the model will return for the new model year, possibly also with a four-door variant in addition to the existing two-door, which sold for $89,790 in 2025, when the entry-level R/T version was discontinued in Canada, where all Chargers are manufactured.

Fiat

Still from Stellantis, we have confirmation that the Fiat 500e will also return for 2026, but we don’t have pricing information either. The 2025 model started at $42,290.

Ford

Ford is another of the manufacturers which increased the price of one EV and reduced that of another. Indeed, the Mustang Mach-E crossover will be about $6,000 less expensive than before, with a new entry price of $49,690, while the F-150 Lightning pickup will be $11,000 more expensive, priced from $73,890.

Genesis

With the Electrified G80 being discontinued in North America, Genesis is down to two electric models for the Canadian market in 2026: the GV60 and the Electrified GV70. No pricing information has been released about the former for the new model year, but we know that the electric GV70 will start at $78,500, which is about $7,000 less than in 2025.

GMC

Thanks to the addition of more affordable trim levels, the 2026 GMC Sierra EV electric pickup starts at $83,633 in 2026, a reduction of $35,700 versus the 2025 model, which was only available in the top Denali trim. While we don’t have pricing information for the 2026  Hummer EV pickup, we do have it for the SUV, which will be available from $134,632, which is only about $100 more than in 2025. Since both the truck and the SUV shared the same price last year, we can assume the same will be true in 2026.

Honda

While Acura has abandoned its GM-based EV, Honda has confirmed its own version of the same model, the Prologue, will come back in 2026, but it hasn’t said how much it will cost. The 2025 version was priced from $63,108.

Hyundai

The South Korean automaker has adjusted its prices for the 2026 model year, with the Kona EV benefiting from a $2,500 reduction to $46,988 and the IONIQ 5 becoming $2,500 more expensive, at $58,488. This latter change is accounted for by the retirement of the base trim level, which came with a smaller battery. The IONIQ 9 mid-size three-row SUV is new for 2026, priced from $62,988, and we don’t have pricing information for the modernized IONIQ 6 sedan, which started at $57,988 in 2025.

Jeep

As is the case for its other electric vehicles, Stellantis is planning a 2026 model for the Jeep Wagonner S, but we don’t yet know how it will be priced. The 2025 version started at $85,790.

Kia

Kia is planning three new electric models in Canada for 2026, but it will be discontinuing one of its key players in the market. Indeed, the EV4 sedan and the EV5 crossover will join the lineup in the coming months, with the PV5 delivery van following later on. Pricing for the EV4 and PV5 is still unknown, but the EV5 will start at $46,662. Existing models include the Niro EV, priced from $48,612 and the EV9 mid-size three-row, priced from $63,162, both the same as in 2025. The EV6, the brand’s counterpart of the Hyundai IONIQ 5, will not return for the 2026 model year, likely because of retaliatory tariffs imposed by Ottawa since it is manufactured in the United States.

Lexus

Lexus only has a single electric vehicle in North America: the RZ compact crossover. This model received an update and additional trim levels for 2026, along with a modest $400 price hike, up to $63,383.

Lucid Motors

The Lucid Air full-size sedan will be offered starting at $99,900 in Canada for the 2026 model year, about $3,000 more than before. The brand’s SUV, the Gravity, is new for 2026, with a base price of $113,500.

Mercedes-Benz

Mercedes-Benz hasn’t announced pricing for any of its 2026 EVs, so we don’t know which direction it will take to face market challenges. The 2025 lineup included the EQE sedan (from $85,600), the EQE SUV (from $94,900), the EQS sedan and SUV (both from $136,000), and the G-Class with EQ Technology (from $206,000). 2026 will see the addition of the CLA with EQ technology and the GLC with EQ Technology, along with an electric version of the new GLB.

MINI

The 2026 MINI Countryman SE, the brand’s only electric vehicle in North America, sees a significant reduction for the new model year, its base price dropping $14,000 to $49,223.

Nissan

While the Nissan Ariya is no longer sold in the United States, it continues to be offered in Canada in 2026, with an entry price of $55,830, which is about $3,000 higher than in 2025. The all-new LEAF has already arrived with a starting price of $47,855, which is about $3,300 more than the previous generation.

Polestar

Due to tariffs on Chinese-made EVs, the Polestar 2 is no longer offered in Canada. This leaves the Polestar 3 performance SUV and the upcoming Polestar 4 crossover for the small Swedish brand. Information about the 2026 Polestar 3 is not yet available (the 2025 model started at $98,800), but we know the Polestar 4 will be offered from $67,700 once it arrives.

Porsche

The Porsche Taycan sedan shows a slight increase of $720 to $150,442 for 2026 while the electric Macan SUV climbs $3,700 to $104,602. The new electric Cayenne will be added to the lineup starting at $144,562.

Rivian

The small American automaker significantly increased its prices in Canada over the course of 2025 due to Ottawa’s retaliatory tariffs, which means that the current $142,985 base price of the R1S SUV and $135,985 for the R1T pickup are both about 25% higher than they were at the start of 2025.

Subaru

The Subaru Solterra has received a mid-cycle refresh for 2026, which is accompanied by a price cut over the 2024 model (there wasn’t an official 2025 model year). Indeed, the new Solterra starts at $55,159, about $4,000 less than before. The coming year will see the addition of the new Trailseeker and Uncharted, two new EVs for which we don’t have pricing information yet. All three of these models are shared with Toyota.

Tesla

Like Rivian, Tesla has significantly increased its Canadian prices since the start of 2025, with the Model Y now priced about 10% higher than in January, at $67,632. The Model 3 saw a much more significant increase of 45%, with a new starting price of $82,632. This is explained in part by the retirement of the smaller battery option. The Model S currently retails for $151,130, the Model X for $163,130, and the Cybertruck for $142,864, all unchanged since the second quarter of 2025.

Toyota

Toyota gave its bZ4X EV an update for 2026 and shortened its name to just bZ. This compact crossover starts at $48,993, $521 less than last year. Like their Subaru counterparts, we don’t yet know the price of the upcoming CH-R and bZ Woodland.

Vinfast

Prices displayed on Vinfast’s Canadian website have stayed the same as they were at the start of 2025, with the VF8 starting at $56,018 and the VF9 starting at $77,308, but it is unclear if these apply to 2026 models. It is also interesting to note that the VF6 and VF7 are listed as upcoming models, despite noting having been heard about them for quite a while now.

Volkswagen

Volkswagen Canada has announced 2026 pricing for its entire lineup, except the ID.4 and the ID.Buzz, its two electric models. For reference, the ID.4 crossover started at $51,310 in 2025 and the ID.Buzz retro minivan was priced from $80,610.

Volvo

The main thing to note about Volvo EVs in 2026 is the discontinuation of the U.S.-built EX90 mid-size three-row SUV, which has become unprofitable due to retaliatory tariffs. This leaves the sub-compact EX30, now manufactured in Belgium, which sees its price decrease by over $3,500 to $53,539, as well as the EX40 and EC40, which both start at $66,470, essentially the same as in 2025.

 

Source: Automotive News