Tesla Slashes Model Y Prices in Canada, Top-End Model Now $3000 Cheaper

Tesla Inc TSLA has cut prices on its costliest Model Y version in Canada, days after the company cut prices on two of its lower-priced versions.

What Happened: The Model Y Performance is now priced at C$69,990 ($51,911.23) on the company website, down 5.8% or C$4,300 (about $3190) from the earlier starting price of C$74,290 ($55,100).

Earlier this month, the company slashed prices on both the Model Y rear-wheel drive and the long-range variants by C$4000 ($2,966). While the rear-wheel drive version of the vehicle now starts at C$53,990 ($40,044), the long-range version starts at C$63,990 ($47,463).

With the recent round of price cuts, the Model Y has the same starting price in Canada as the Model 3 sedan. The Model 3 was previously Tesla's cheapest offering.

Why It Matters: Tesla delivered over 1.2 million Model Y SUVs in 2023, solidifying its position as the world’s best-selling vehicle model. It is the first EV ever to wear that crown.

Photo Courtesy: Tesla

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