Tesla lowers Model 3 prices in Canada

Tesla has lowered the prices of two of its Model 3 variants in Canada. The price drop is an important one for buyers in British Columbia as it means the entry-level variant of the electric sedan will continue to be eligible for the province’s $4,000 rebate.

Model 3 Price Drops in Canada

According to an update to the Design Studio on Monday night, the Model 3 Rear-Wheel Drive (RWD) has seen a $1,000 price drop, going from $50,990 to $49,990. This is the first price drop for the Model 3 RWD in Canada in nearly 2 months, and makes it $4,000 cheaper than the start of the year.

It is also the first time the Model 3 has been priced under $50,000 in Canada, with the exception of the software-limited 151km Standard Range Model 3 that was available for a limited time for $44,990.

Meanwhile the Model 3 Long Range (LR) has seen the same $1,000 price drop, now starting at $59,990.

The newly released Model 3 Performance, which has seen its Canadian debut delayed, has seen no price changes, and remains at $69,990.

Rebate Eligibility

The price drops have no impact on eligibility for the $5,000 federal iZEV rebate, and both the Model 3 RWD and LR continue to qualify.

However, the price drop has important implications in British Columbia. Earlier today Drive Tesla was first to report on upcoming changes to the province’s rebate program. One of those changes, which take effect on June 19, will see the price cap for the program lowered from $55,000 to $50,000, which would have meant all Tesla Model 3/Y variants would no longer be eligible for the $4,000 incentive in BC.

But with tonight’s price drop, the Model 3 RWD is now priced $10 under that threshold, just like we speculated might happen, and will continue to be eligible for the rebate.

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