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Published Jan 23, 2025 • 1 minute read
TORONTO — Tesla Inc. is raising prices on its Canadian vehicles by thousands of dollars starting Feb.1 amid big shifts in incentives and rising trade tension.
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Prices for its Model 3 vehicle are increasing by up to $9,000, while prices for its Model Y, X and S vehicles are rising by up to $4,000, the company said on its website.
Tesla did not say why it was increasing prices nor did it respond to a request for comment.
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The increase comes as trade tensions rise, with U.S. President Donald Trump saying he could impose widespread tariffs on Canada starting Feb. 1.
The timing also coincides with the suspension of Quebec EV incentives, worth up to $4,000, for two months.
Meanwhile federal EV incentives, worth up to $5,000, ended on Jan. 12 after program funding ran out. Transport Canada has not said if or when the program might resume.
Tesla raised its Canadian prices in January by $1,000 just as the federal incentives were running out. The increases pushed its Model 3 and Model Y over the $55,000 and $60,000 maximums for cars and SUVs to qualify for federal electric vehicle incentives.
The company’s vehicles imported from China had already lost eligibility last October, as did any imports from countries without a free trade deal with Canada.
Canada’s 100 per cent tariffs on EVs from China, matching U.S. levels, also came into effect Oct. 1.
Tesla has in the past also made big price cuts that line up with policy changes. In 2023, it slashed prices by up to 20 per cent in a move that helped it qualify for U.S. and Canadian incentives.
This report by The Canadian Press was first published Jan. 23, 2025.
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