Tesla To Raise Prices In Canada: Model 3 Sees Up To $6,200 Hike

EV giant Tesla Inc. TSLA will increase the prices of its entire car lineup starting Feb. 1. The prices of the Model 3 are expected to rise by as much as C$9000 (about $6,253).

What Happened: While Model Y prices will increase by up to C$4000 on Feb 1, Model 3 prices will increase by up to C$9000, the company said in announcements on its Canadian website.

The company said that the starting price on all variants of Model X and Model S will increase by C$4000 starting next month, without offering a reason for the price hike. Tesla did not immediately respond to Benzinga‘s request for comment.

There are no warnings for a possible price hike on the Cybertruck.

Why It Matters: The EV giant does not manufacture in Canada but imports vehicles from its factories outside the country. The Canadian government levies 100% tariffs on all EVs manufactured in China and sold in the country, including Tesla EVs.

Earlier this month, the company increased the price of all Model Y and Model 3 variants in Canada by C$1,000.

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