Tesla drops price of Model 3 and Model Y in U.S. by as much as $2,000, no changes in Canada

Tesla has adjusted the prices on their entry-level Model 3 and Model Y variants in the U.S. tonight, dropping them by as much as $2,000.

Model Y Price Change

The biggest price drop went to Tesla’s newest variant of the electric SUV, the Standard Range (SR) Model Y. Previously priced at $41,990, it got a $2,000 price drop to now start at $39,990.

While it might not sound like much, the price adjustment puts it below the $40k mark, a significant mental barrier for many buyers.

Unfortunately the Performance Model Y is now $1,000 more expensive.

Model 3 Price Change

The Standard Range Plus (SR+) Model 3 saw a smaller price adjustment. Previously priced at $37,990, it now starts at $36,990.

If the Biden GREEN Act passes and becomes law, and it is expected to, buyers of the SR+ Model 3 in the US could get another $7,000 off, putting it at just $29,990.

Like the Model Y, the Performance Model 3 increased in price by $1,000.

Price Changes in Canada

Unfortunately there have been no price adjustments in Canada for either the Model 3 or the Model Y. This only further widens the gap in price between Canada and the U.S. when taking the current exchange rate into account.

If the SR+ Model 3 were priced at a straight exchange, it would cost $46,970 in Canada, $6,000 less than its current starting price.

At the new price, the difference for the Canadian SR Model Y is even bigger at $9,300 more expensive.

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