Tesla has raised prices on both the Model 3 and Model Y in Canada on Tuesday night. This latest round of increases has unfortunately pushed the Rear-Wheel Drive (RWD) Model 3, formerly known as the Standard Range Plus, above the limit for the $5,000 federal iZEV rebate.
Model 3 Price Changes
All three variants of the Model 3 have been impacted by this latest round of price increases.
Most notable is the RWD Model 3, with its price increasing from $56,380 ($54,990 when excluding fees) to $59,990. The maximum price limit for the entry-level sedan to qualify for the iZEV rebate is $55,000.
It’s previous price was just $10 below that limit.
As a result, Tesla has also removed the range-limited 151km Model 3 from the Design Studio, since this no longer needs to be offered for the RWD Model 3 to qualify for the rebate.
Combining the recent price increases and the loss of the rebate, this now makes the RWD Model 3 $12,000 more expensive than it was a few months ago ($52,990). Add in the loss of provincial rebates, and it gets even worse depending on where you live.
UPDATE Nov 23 5:25pm PST: If you have already placed an order, Tesla will honour your original price, and you will still receive your rebate.
UPDATE Nov 24 9:27am PST: Tesla has updated their website, confirming the RWD Model 3 only qualifies for the Quebec and Newfoundland provincial rebates. It also confirms the rebate will apply to purchases prior to the price change. You can read those changes here.
UPDATE Nov 24 09:57am PST: Transport Canada has clarified that orders placed after 5:00pm PST are no longer eligible for the federal rebate.
The Long Range (LR) and Performance variants were increased by $2,000 each, now starting at $66,990 and $76,990 respectively.
Model Y Price Changes
Both variants of the Model Y were also increased. The LR now starts at $76,990, making it $7,000 more expensive than it was just last month.
The Model Y Performance also saw a $1,300 price increase, moving from $83,990 to $85,290.
This is a developing story, check back for updates.
UPDATE 5:08pm PST: Tesla has made Midnight Silver Metallic a standard paint option now. Black has also increased to $2,000, following the same moves in the US earlier this month.