Tesla Model Y Receives Price Drop and Government Incentives in Canada

In 2023, the Tesla Model Y is set to become even more popular in Canada. Following the strategy used for other models in the Tesla lineup, the Model Y has received a price drop, specifically for the all-wheel drive version. The price has been reduced by $4000, bringing the initial price down to $65,988.

This new pricing strategy was unveiled on the morning of February 2nd and makes the Model Y all-wheel drive model a more affordable option for Canadian buyers. With the price now starting at $63,990, it falls below the maximum threshold for eligibility for the Quebec government’s electric vehicle rebate program, which offers a $7000 financial incentive.

This means that buyers can now benefit from a total discount of $12,000, applied after taxes. Combining the new eligibility for the provincial rebate and the price reduction from the manufacturer, the all-wheel drive Model Y is now over $10,000 cheaper for Quebec residents than it was yesterday.

In addition to the price drop, Tesla has also made some changes to the available colors for the Model Y. The night grey metallic color has been replaced with stealth grey, and the multi-coat red has been changed to ultra red, offering customers some new options.

The rear-wheel drive version of the Model Y remains at the same price of $55,988, while the Performance version is still priced at $76,288. Due to the price structure, the rear-wheel drive model is eligible for all rebates, while the Performance version does not qualify for any.

Tesla’s aggressive pricing strategy has positioned the Model Y as a leader in the compact electric SUV category, surpassing the competition. Other models like the Nissan Ariya and the Kia EV6 have significantly higher price tags, making the Model Y an even more attractive option.