Tesla, Inc. (TSLA.US) raises prices on multiple car models in Canada, with the highest increase reaching up to 9000 Canadian dollars.

On Thursday, Tesla, Inc. (TSLA.US) announced on its official website that the company plans to increase the prices of its electric vehicles in Canada on February 1st. The price of Model 3 will be raised by up to $6249 (CAD 9000), while Model Y, Model S, and Model X are expected to increase by $2778 (CAD 4000). The pricing for Cybertruck will remain unchanged. With increasing competition in the electric vehicle market, Tesla, Inc. has seen a slight decrease in market share in Canada, but overall sales continue to grow. By 2024, the best-selling Tesla, Inc. vehicles in Canada are projected to be the Model Y and Model 3. As of January 2025, Canada has temporarily suspended its federal zero-emission vehicle incentives program, which previously provided up to $5000 in rebates for purchasing electric vehicles (including Tesla, Inc.). Due to a surge in nationwide demand for electric vehicles in Canada, the program funds were depleted ahead of schedule, leading to the suspension of the program. Some provinces in Canada continue to offer their own incentives for purchasing electric vehicles.