Select models of Tesla’s Model Y now qualify for the iZEV $5,000 federal rebate in Canada, while also now eligible for select provincial rebates as well.
This is possible because the Model Y RWD has returned to Canada, priced at $59,990 CAD (via @SawyerMerritt). This car has an estimated EPA range of 394 km and a top speed of 217 km/h, while going 0 to 100 km/h in 6.9 seconds. This version of the car smells like it might have LFP batteries, as specs match that of the Model Y RWD fro Giga Shanghai.
With this entry price of $59,990 CAD, it takes it below the threshold of $60,000 to qualify for the federal rebate of $5,000. If you’re in B.C. for example, you can get another $4,000 rebate on top, for $9,000 off a Model Y. The Model Y RWD price then drops down to $50,990, which is not bad at all if you really want an entry Model Y.
For those in Quebec, this means the Model Y can qualify for the $7,000 provincial rebate, plus the $5,000 federal rebate, for $12,000 off the compact crossover. This means the Model Y RWD can be purchased for as low as $47,990 CAD. Not bad at all.
“All new Model Y RWD and Model Y Long Range AWD vehicle purchases qualify for a federal iZEV incentive. Eligible buyers may claim one iZEV incentive per year, subject to availability. Additional provincial incentives may also be available,” said Tesla.
As for the iZEV program requirements? It says, “Station Wagon, SUV, Trucks with an MSRP under $60,000. Higher priced trims of these vehicles, up to a maximum MSRP of $70,000, are also eligible for purchase incentives.” The introduction of the Model Y RWD at under $60,000 qualifies the latter for the federal rebate, while the Long Range at $69,990 is under the maximum MSRP threshold of $70,000 CAD. Boom.
Tesla offered the Model Y Standard Range in Canada back in early 2021, priced from $56,290 CAD at the time, but it didn’t qualify for the federal rebate due to different requirements of the program at the time.
On a side now, the Model Y RWD is also available in Mexico now (via David Cherem).
Are you going to purchase a Model Y in Canada now that the EV qualifies for both federal and provincial rebates?