The sudden end of the Canadian subsidy of $5,000 for the purchase of an electric vehicle has forced many consumers and automobile manufacturers to review their plans. Companies such as Hyundai, Volkswagen, Nissan, Ford and General Motors have in turn decided to compensate for the loss of this financial assistance by allocating an equivalent rebate, at least until January 31, 2025.
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After this date, it will be over, like the provincial subsidy from the Quebec Roulez vert program.
The hope is that the industry adjusts by lowering the prices of electric vehicles, especially in a context where demand is not as strong as hoped and where some dealerships are full. However, the opposite is now happening at Tesla.
Let’s start with its best seller, the Model Y crossover. No longer needing to meet the federal incentive program’s $60,000 limit, the base rear-wheel-drive version has just jumped from $59,990 to $60,990 (MSRP ). The all-wheel drive version also increases by $1,000 to $64,990. Ditto for the Performance version, which now costs $69,990.
-We are talking here about the same vehicle as before and not the modernized Model Y 2025 which recently made its debut in other markets and which will arrive here soon.
Tesla marked up all versions of the Model 3 sedan by $1,000 as well. The rear-wheel drive version jumps to $55,990, while the all-wheel drive equivalent goes to $60,990. As for the Model 3 Performance, now count on $70,990.
Saltier rises are coming
No price adjustments were made to the Model S, Model X and Cybertruck, as these three vehicles were not eligible for the Ottawa subsidy anyway.
Speaking of the Cybertruck, more affordable versions are still waiting on the Canadian market, unlike in the United States where Tesla has also started to lower prices due to a surplus of inventory. Only examples of the Foundation Series are currently available, with prices of $137,990 and $165,990 depending on the engine.
But be careful: on its website, Tesla Canada announces that new price increases will come into effect on February 1, without giving any explanations for the moment. The Model 3 will go up to $9,000, no less, while the Model Y, Model S, and Model X will go up to $4,000. In the case of the first, it risks hurting it very badly in terms of sales… and giving a boost to the competition.
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