Tesla has announced that it will be increasing prices across its lineup in Canada starting February 1. The price hikes will affect the Model 3, Model Y, Model S, and Model X. The reason behind the increase is believed to be the falling Canadian dollar, which has caused costs to rise in comparison to U.S. pricing.
The upcoming price hikes are as follows:
– Model 3 RWD: +$4,000 (from $55,990 to $59,990 CAD)
– Model 3 Long Range RWD: +$4,000
– Model 3 Long Range AWD: +$8,000
– Model 3 Performance: +$9,000
– Model Y: +$4,000
– Model S: +$4,000
– Model X: +$4,000
It is worth noting that the U.S. price of the Model 3 RWD, when converted to CAD, is approximately $64,600 based on current exchange rates. This closely aligns with the adjusted Canadian pricing. The Canadian economy has been struggling, and the weakening dollar is contributing to the increase in prices across the board.
In addition to the price hikes, the $5,000 federal iZEV rebate for electric vehicles in Canada is also coming to an end. This means that purchasing a Tesla in Canada will now be considerably more expensive. Tesla has recently raised prices in addition to the rebate ending, making it a challenging time for Canadian consumers looking to purchase a Tesla vehicle.
The decision to increase prices in Canada reflects the current economic climate and exchange rate fluctuations. Despite the price hikes, Tesla remains a popular choice for many consumers due to its innovative technology and commitment to sustainability.