Tesla has raised the price of the Model Y in the United States almost too many times to count this year, making it $5,000 more expensive than it was earlier this year.
Each time, the Canadian price remain unchanged, likely due to the large spread between the price of the car between the two countries when taking the exchange rate into account.
The price was most recently raised south of the border just two days, when the Long Range (LR) variant increased by $2,000.
Now the automaker has finally raised the price in Canada, but “only” by $1,000. Anyone ordering a LR Model Y tonight in Canada will now be paying $70,990, up from $69,990 earlier today.
The price of the Performance variant remains unchanged at $83,990.
This now puts the Model Y in Canada about $1,000 above the price of the Model Y in the US – $54,990 USD = ~$69,000 CAD.
Unlike the price change in the US earlier this week that also increased the price of the Model 3, there have been no changes to the price of the electric sedan in Canada.
There are two main factors at play as to why Tesla has increased their prices so much this year. The first is likely due to the unprecedented demand the automaker is seeing for their vehicles.
According to estimates on the Design Studio, customers ordering today can expect to wait until April to receive their new Model Y. The situation is even worse for the Standard Range Plus (SR+) Model 3 in white outfitted with aero wheels, which has a 9 month wait into June 2022.
The other is supply chain shortages, which Elon Musk explained today during the 2021 Annual Meeting of Stockholders applies to more than just semiconductors.