Tesla has increased the prices for its Model 3 and Model Y vehicles in Canada, which has had a serious impact on the availability of the popular iZEV subsidies. These government subsidies, which provide up to 5,000 CAD were previously a decisive factor in the purchase of an electric car. However, with the new prices, all basic variants of Model 3 and Model Y exceed the price limit of the program and are therefore no longer eligible.
Price increase for Tesla Model 3 and Model Y
The latest price adjustments affect all models in the Model 3 and Model Y. Here is an overview of the new prices:
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Model 3 Long Range RWD: 55,990 CAD (previously 54,990 CAD)
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Model 3 Long Range AWD: 60,990 CAD (previously 59,990 CAD)
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Model 3 Performance: 70,990 CAD (previously 69,990 CAD)
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Model Y Long Range RWD: 60,990 CAD (previously 59,990 CAD)
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Model Y Long Range AWD: 64,990 CAD (previously 63,990 CAD)
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Model Y Performance: 69,990 CAD (previously 68,990 CAD)
With these prices, all variants exceed the price limits of the iZEV program55,000 CAD for the Model 3 and 60,000 CAD for the Model Y.
Effects on the iZEV subsidies
The loss of the iZEV subsidy means an additional financial hurdle for many buyers, as the subsidy has often made the difference between an electric vehicle and a conventional vehicle.
Some provinces, such as Quebec and Manitobaoffer additional subsidies, but these are also linked to the iZEV classification. This means that the Tesla-models are also largely no longer eligible for funding under these programs.
In other provinces, such as Ontario or Albertathere are no additional EV subsidies anyway. Buyers in these regions have to bear the increased prices without government support.
Why has Tesla increased the prices?
Tesla has not given an official reason for the price adjustments. However, experts suspect that the following factors could play a role:
- Currency exchange: The depreciation of the Canadian dollar against the US dollar may have contributed to the price increases.
- Expiry of the iZEV program: The government has announced that iZEV funding is nearly exhausted. Tesla's price adjustment could be aimed at leaving the remaining funds to other manufacturers.
What does this mean for Tesla-buyers?
For potential Tesla-customers, the increased prices without subsidies mean higher acquisition costs. This could push buyers towards other electric vehicles that are still eligible for subsidies, such as models from Hyundai, Kia or BYD.
Conclusion: A challenge for buyers and Tesla
The price increases for the Model 3 and Model Y not only represent a hurdle for buyers, but could also affect Tesla's sales in Canada. While other manufacturers could benefit from the extended availability of the iZEV subsidy, Tesla is losing out. Tesla loses an important incentive for potential customers.
Keywords: Tesla, Tesla Model Y, Tesla Model 3, Tesla Accessories, Tesla Store, Shop4Tesla, Tesla News, iZEV subsidies, Tesla Prices Canada, Electric Cars Canada, EV Subsidies
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