Tesla has updated the pricing both the Model 3 and Model Y in the US tonight, making it the fifth time it has already done so this year. There are still no price changes for either variant in Canada.
Following a series of changes that saw the prices go up and down, this latest round increases the prices of all non-performance variants by $500.
Model 3 Prices
- Standard Range Plus – $38,490 to $38,990 (+$500)
- Long Range – $47,490 to $47,990 (+$500)
- Performance – $56,990 (no change)
Model Y Prices
- Long Range – $50,490 to $50,990 (+$500)
- Performance – $60,990 (no change)
While a $500 price increase might not sound like much, the pennies add up. In Q1 2021, Tesla delivered 182,780 Model 3/Y vehicles. If all of those were $500 more, that would equate to more than $91 million in extra revenue for the automaker.
Even though US buyers have seen five prices changes so far this year, Canadian buyers are still paying the same price and have been for quite a while.
The Model Y last saw a change in July 2020 when prices were slashed by as much as $6,000. You have to go back even further to May 2020 to find the last time the Model 3 price changed in Canada, when prices were dropped by as much as $2,000.