Tesla has significantly increased discounts on its legacy Model Y inventory units in Canada and the U.S. The price cuts apply to the previous generation Model Y vehicles that remain in stock following the launch of Tesla’s latest design refresh.
Discounts in Canada and the U.S.
In Canada, discounts on legacy Model Y units have now exceeded $11,000, making these vehicles even more attractive to buyers who don’t necessarily need the latest updates. This is more than double the previous discounts, which stood at a little over $4,000 in mid-January.
The biggest discount we could find was $11,590 on the Performance Model Y, while the Long Range All-Wheel Drive (AWD) sees a similar max discount of up to $11,380. The Model Y Long Range Rear-Wheel Drive (RWD) also has some steep discount at over $7,000. These discounts bring prices close to, or in the case of the Performance, less than what they were before the up to $9,000 price increases on February 1.
Don’t forget you can also use our referral link and save another $1,300 off your Model Y purchase.
In the U.S., the discounts are just as enticing, with inventory Model Y Performance trims seeing price reductions of up to $7,000. The Long Range AWD and Long Range RWD versions are also receiving sizable discounts of up to $5,250 and $3,840 off respectively.
When combined with the $7,500 U.S. federal EV tax credit, a previous-generation Model Y Performance can now be purchased for as low as $37,000 before factoring in gas savings—an incredibly competitive price for a high-performance electric SUV, and about $13,000 less than in Canada when taking into account the exchange rate.
Why Is Tesla Offering These Discounts?
Tesla’s inventory discounts are aimed at clearing out older stock before the new Model Y takes over as the standard offering, which has already appeared on the Design Studios in China and Europe. The new version, which is already being delivered as of this past weekend in the U.S., features updates such as a revised interior, ambient lighting, improved materials, and enhanced soundproofing. Canadian deliveries have not been scheduled yet, but should hopefully start in the second half of March.
