EV giant Tesla Inc. TSLA has increased the price of all Model Y and Model 3 variants in Canada by C$1,000 (about $692).
What Happened: The Model Y now starts at C$60,990 ($48,485) in Canada for the base rear-wheel-drive variant and at C$69,990 for the more premium Performance variant.
| Model Y Variant | New Starting Price (CAD) | Older Starting Price (CAD) |
| Rear-Wheel Drive | 60,990 | 59,990 |
| All-Wheel Drive | 64,990 | 63,990 |
| Performance | 69,990 | 68,990 |
Tesla has likewise hiked the prices of all Model 3 variants in the country. The Model 3 now starts at C$55,990, up from C$54,990.
The Long Range All-Wheel Drive variant Model 3 now starts at C$60,990, while the Performance variant starts at C$70,990.
| Model 3 Variant | New Starting Price (CAD) | Older Starting Price (CAD) |
| Rear-Wheel Drive | 55,990 | 54,990 |
| All-Wheel Drive | 60,990 | 59,990 |
| Performance | 70,990 | 69,990 |
Why It Matters: Tesla’s price hikes are not limited to Canada.
Last week, the company hiked the price of all variants of the Model 3 in China by 3,600 yuan.
Tesla also launched a refreshed Model Y in China on Thursday. The refreshed vehicle starts at 263,500 yuan on Tesla’s China website, nearly 5.4% pricier than the older version of the vehicle which started at 249,900 yuan.
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Photo courtesy: Tesla
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