Tesla Model Y customers in the US and Europe can expect prices to increase soon. The announcements were made by Tesla just as Model Y prices increased in Canada, a move that was also pre-announced by the automaker.
Model Y Price Increase in Canada
According to an update to the online configurator on Friday evening, prices for the Model Y Rear-Wheel Drive (RWD) and Long Range (LR) increased by $1,000, now starting at $54,990 and $64,990 respectively.
There was no change to the Model Y Performance. Fortunately these price increases did not impact eligibility for the $5,000 iZEV rebate.
Tesla had announced this increase last week, marking just the second time the company had used this new marketing strategy, having used it just a few weeks prior in the US as a way to incentive customers to place their order before the impending price increase.
Model Y Price Increase in the US
Just a few hours after Tesla increased Model Y prices in Canada, the company announced all three trims of the Model Y will be increasing by $1,000 in a few weeks on April 1, 2024.
That date just happens to be the first day of the second quarter, so it appears Tesla is using this tool to drive end of quarter sales.
Tesla has already implemented a number of incentives to boost sales in the first quarter. Among these include bringing back Full Self-Driving (FSD) transfers, unlimited supercharging transfers, and 8,000km of free Supercharging credits in Canada and up to 10,000 miles in the US.
Model Y Price Increase in Europe
The price increases aren’t limited to North America. On Saturday morning Tesla announced Model Y will also be increasing in Europe.
Unlike the price increase in the US, Europeans can expect prices to change on March 22. Given the regional differences in pricing, Tesla did not say by how much prices will be increasing, highlighting how easily and quickly you can order a car online.
