- Most Tesla models in Canada will see hefty price increases starting February 1.
- Prices will rise by CA$ 4,000-9,000 (US$2,800-6,300) depending on the model.
- The hikes may be tied to an impending tariff standoff between Canada and the U.S.
Tesla has just delivered some unwelcome news for Canadian buyers—steep price hikes are coming across nearly its entire lineup. The sharpest increase targets the Model 3 Performance, which will soon cost CA$9,000 (equal to US$6,200 at current exchange rates) more. Curiously, the Cybertruck remains the lone Tesla unaffected by these changes.
The updated prices, now reflected on Tesla’s Canadian website, will officially take effect on February 1, 2025. For prospective buyers, this means there’s a tight window to lock in current prices before the increases hit.
A Closer Look at the Price Hikes
The Model 3 takes the brunt of these adjustments, with price increases ranging from CA$4,000 to CA$9,000 (US$2,800 to US$6,300) depending on the trim. For example, the cost of the Model 3 Performance will rise from CA$70,990 (US$49,400) to a hefty CA$79,990 (US$55,600).
More: Trump Could Hit Canada And Mexico With Tariffs By Feb. 1, Driving Car Prices Up Thousands
Meanwhile, the Model Y, Model S, and Model X are set to experience a flat CA$4,000 (US$2,800) increase across all trims. Despite these adjustments, the Cybertruck maintains its current pricing, with the top-tier “Cyberbeast” model remaining Tesla’s most expensive offering at CA$165,990 (US$115,400).
What’s Behind the Price Changes?
Tesla hasn’t offered a direct explanation for the price increases, but the February 1 date coincides with U.S. President Donald Trump’s proposed 25% tariff on Canadian goods entering the U.S. starting that same day. In response, the Canadian government has indicated plans to impose similar tariffs on U.S. imports. Whether Tesla’s timing is a preemptive move or mere coincidence remains unclear.
Read: Toyota World’s Most Valuable Car Brand, Tesla Falls To 4th Over Aging Cars, Musk
As reported by local website Drive Tesla Canada, Tesla increased prices of all Model 3 and Model Y trims by CA$1,000 (US$ 700) just over a week ago. Furthermore, Canada’s federal incentive program that slashed EV prices by CA$ 5,000 (US$ 3,500) has been discontinued, although the increased prices of Tesla models would make them ineligible anyway.
Below you can see the price change for every Tesla model in Canada, effective February 1st, 2025.
CANADIAN PRICES
