Tesla has made more pricing changes on their vehicles in existing inventory, this time increasing the discounts on the Model 3 in both Canada and the US, while at the same time adding new discounts for the Model S, Model X, and Model Y.
Model 3 Discounts
The Model 3 discounts first started in the US last month, and were initially at $1,350 off the base price for new vehicles already built. Then the discounts made their way to Canada earlier this week, with the Model 3 being offered for $1,500 cheaper than a custom configured vehicle. There has been no explanation for the discounts given by the automaker, but one reason could be that inventory of the electric sedan is at a four month high. According to data compiled by Matt Jung, model 3 inventory in the US is currently sitting at around 850 units, well above the trend line for the past four months, which for the majority of that time has been below 500 units. Another reason could be the impending Model 3 refresh, which is causing people to hold off on ordering if they can in the hope they will get the new design.
It appears as though the initial discounts in mid-May in the US did not have their desired effect, and now those discounts have increased. In Canada the discount on the Model 3 Long Range is now $2,500, while the Model 3 Performance has a slightly lower discount of $2,280. In the US the discount has essentially doubled to as much as $2,620 off the base price, putting the lowest priced Model 3 we could find at $37,820, before any federal or state incentives.
Model Y Discounts
Tesla has been discounting the Model Y in existing inventory in Canada by $500 since last month, but only for the seven-seat configuration after removing the option from the Design Studio. There has been no change to that discount, but Tesla is now discounting the Model Y in the US by $580. This discount is not limited to a particular variant or configuration.
Model S/X Discounts
Not to be left out, Tesla also appears to have added new discounts to Model S and Model X vehicles in existing inventory in Canada and the US. (h/t: @BruceTheModel3) According to a review of listings in both countries by Drive Tesla, the discounts amount to $6,500 in Canada and $5,000 in the US.
Those are the amounts on new vehicles, but the discounts can be as high as nearly $11,000 CAD or $7,400 USD for demo vehicles in inventory, if you don’t mind having a few extra kilometers or miles on the odometer.
