Tuesday, February 7, 2023
News Tesla Bumps up Model 3 and Model Y Prices in Canada

Tesla Bumps up Model 3 and Model Y Prices in Canada

Tesla added several thousand dollars to two of its models in Canada

  • Two of the most popular Tesla models saw their price increase without notice

  • The Tesla Model 3 SR+ now costs $2,000 CAD more

  • The Tesla Model Y LR AWD now costs $5,000 CAD more

Tesla has made it a habit to modify its vehicle’s prices out of the blue, sometimes lowering them and sometimes increasing them without clear motives.

The automaker recently bumped up to price of two of its most popular models in Canada by a substantial amount.

The Model 3 Standard range plus, the best-selling Tesla vehicle in Canada and the lowest priced Model 3 (apart from the very rare and undesirable Standard Range version) will now retail for $2,000 CAD more than it did a couple of weeks ago, at $54,995.

Similarly, the Model Y, the compact SUV based on the Model 3, saw its base price climb by $5,000 which represents a 7% increase. The Long-Range Dual Motor version of this model will now command $74,990 CAD.

Other, more expensive, versions of these vehicles have not been affected by this price increase and neither were the Model S and Model X.

Despite these changes to the pricing structure, no modifications of the cars or their features and their software seem to have taken place to justify such a hike in asking price.

The answer could be linked to the high demand these models enjoy, since waiting times for either the Model 3 SR+ or the Model Y LR AWD now stretch to April of 2022, while the other models that have not been affected are available by the end of the year, more than four months before the two other models.

Pricing changes like these are very easy for Tesla because the company doesn’t have dealerships and it relies on its website to sell cars, which means it only takes the automaker a couple of clicks to add or remove several thousand dollars to the sales price of one or more of its models.

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