Tesla has increased the price of the Model Y in Canada, yet again.
The starting prices are now as follows:
- Long Range – $83,990 CAD (+$1,000; was $82,990 CAD)
- Performance – $90,390 CAD (+$1,100; was $89,290 CAD)
These prices work out to the equivalent of $65,455 USD and $70,443 USD respectively for the Long Range and Performance Model Y.
Tesla previously increased the prices of the Model Y in Canada back on March 14, with increases of $4,000 CAD respectively for the Long Range and Performance versions of the car.
During Tesla’s Q1 earnings call, CEO Elon Musk addressed price increases.
“Actually, on the price increase front, I should mention that it may seem like maybe we’re being unreasonable about increasing the prices of our vehicles, given that we had record profitability this quarter, but the wait list for our vehicles is quite long,” said Musk.
“And some of the vehicles that people will order, the wait list extends into next year. So, our prices of vehicles ordered now are really anticipating supplier and logistics cost growth that we’re aware of and believe will happen over the next 6 to 12 months. So, that’s why we have the price increases today because the car ordered today will arrive, in some cases, a year from now. So, we have a very long wait list, and we’re obviously not demand-limited. We are production-limited by — very much production-limited,” explained the Tesla CEO.
Aside from dealing with a global chip shortage and supply chain headwinds, it’s not a surprise the prices of Tesla vehicles continue to increase, including in Canada.
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