Tesla has increased prices across the board tonight in both Canada and the US, raising them anywhere from $2,000 to $8,000 depending on the vehicle and configuration.
Model 3 Price Changes
The Model 3 in Canada was the only vehicle to be spared a price change tonight, however our counterparts to the south were not so lucky.
The entry-level Standard Range Plus (SR+) is up by $2,000 USD, and now starts at $43,990 USD.
UPDATE: Showing a clear reason for the price increase, delivery wait times for the base configuration (white and aero wheels) are now showing as September 2022 in the US. Canada is still showing an April estimated delivery date.
Both Long Range (LR) and Performance variants experienced no price increases.
- No changes
- Standard Range Plus – $41,990 to $43,990 (+$2,000)
- Long Range – $49,990 (no change)
- Performance – $57,990 (no change)
Model Y Price Changes
Following a $1,000 price increase earlier this month, Tesla has raised the price of the LR Model Y again, this time by a massive $4,000. The entry-level variant of the electric SUV now starts at $74,990 CAD, up from $69,990 from just a few weeks ago.
In the U.S., the LR Model Y also saw a price increase of $2,000 to now start at $56,990. In both countries the price of the Performance variant stayed the same.
UPDATE: Delivery wait times for the Model Y have also increased in the US, shifting from July to August 2022. Canadian orders are still showing April 2022.
- Long Range – $70,990 to $74,990 (+$4,000)
- Long Range – $54,990 to $56,990 (+$2,000)
- Performance – $61,990 (no change)
Model S Price Changes
Even the flagship Model S sedan was not immune to tonight’s changes.
In Canada the LR variant is up $7,000 CAD to $121,990 CAD. The price of the Plaid has remained the same at $169,990 CAD.
In the U.S., the price increase was $5,000 for the LR, bringing it to $94,990 USD. This most recent price increase now makes the Model S $25,570 USD more expensive than it was last year (although you do get a lot more with the refresh design).
- Long Range – $114,990 to $121,990 (+$7,000)
- Plaid – $169,990 (no change)
- Long Range – $89,990 to $94,990 (+$5,000)
- Performance – $129,990 (no change)
Model X Price Changes
With just a handful of deliveries under their belt, Tesla even increased prices for the Model X.
In Canada the LR Model X is up $8,000 to $132,990. The Plaid saw no price change.
In the U.S. it was a similar picture, with the LR increasing by $5,000 USD to $104,990 USD.
- Long Range – $124,990 to $132,990 (+$8,000)
- Plaid – $159,990 (no change)
- Long Range – $99,990 to $104,990 (+$5,000)
- Performance – $119,990 (no change)
All these price increases can be attributed to two main factors that when combined have created the perfect storm for Tesla and consumers.
The first is increased demand. As noted above, wait times have almost reached a full year for certain configurations of the Model 3 and Model Y. This is not likely to improve until Giga Texas and Giga Berlin are able to ramp up production.
The other reason are the supply chain and semiconductor shortages that have plagued all automakers.