Tesla increases price of Model 3 SR+ in Canada to just $10 below federal incentive limit

Two weeks ago Tesla increased the price of the Standard Range Plus (SR+) Model 3 in Canada. As demand shows no signs of slowing down, Tesla has raised the price again.

Earlier this month the SR+ Model 3 started at $52,990. Then on October 14 Tesla increased the price by $2,000 to $54,990.

In an update to the Design Studio overnight, the price of entry-level electric sedan has been increased another $3,390 and now starts at $56,380.

SR plus model 3 canada

If that price doesn’t sound quite right to you, it is because it is the only vehicle in Tesla’s North American lineup that doesn’t end in $990. And there is a good reason for it.

The Government of Canada offers a $5,000 rebate on the purchase of certain electric vehicles (EVs). To qualify the EV must be priced under $55,000 (and have a lower trim under $45,000, which is why the range-limited SR Model 3 is offered only in Canada).

Taking out the included $1,280 destination and documentation fee, $100 air conditioning fee and $10 OMVIC fee, the new price is $54,990, just $10 below the upper limit of the program.

If they had followed their typical pricing convention and raised it to $56,990, it would no longer qualify for the rebate.

Unfortunately delivery wait times for the stock configuration (white paint and aero rims) have not improved are are still showing as September 2022.

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