E-commerce behemoth Tesla Inc TSLA has slashed prices on select versions of its Model Y SUV in Canada by up to 6.9%, aligning its cost with the Model 3 sedan in the region.
Making Moves: Tesla has substantially reduced prices on both the rear-wheel drive and long-range iterations of the Model Y by C$4000 (approximately $2,990). The rear-wheel drive variant now commences at C$53,990, while the long-range version starts at C$63,990.
The cost of the Model Y Performance remains static at C$74,290.
Following this price adjustment, the Model Y shares the same entry price point in Canada as the Model 3 sedan, which formerly stood as Tesla’s most economical option.
Significance: In 2023, Tesla delivered over 1.2 million Model Y SUVs, solidifying its standing as the world’s top-selling vehicle model. It marked the first electric vehicle to claim that title.
