Tesla has announced some important price hikes across its entire lineup in Canada amid incentives going away and a struggling Canadian dollar.

The Canadian EV market is already having problems amid announcements that the federal incentive program will be eliminated. The same thing is happening to Quebec’s own program, which was the most generous in the country—making the province the leader in EV adoption in Canada.

Now, Tesla, which sells more EVs than anyone in Canada, announced that it is increasing prices on all its lineup.

Here are the price increases for each Tesla model:

• Model 3:
  • Long Range RWD: $4,000
  • Long Range AWD: $8,000
  • Performance: $9,000
• Model Y: $4,000
• Model S: $4,000
• Model X: $4,000

Tesla never comments on price changes and therefore, we don’t know the official reasons for these specific price increases, but we can make some educated guesses.

First off, the Canadian dollar has crashed in comparison to USD over the last few months:

Furthermore, the timing of announcing that the price increases will take place on February 1st has led some to link this to the upcoming tariff wars that President Trump signaled against Canada.

The US President said that he plans to impose 25% tariffs on any goods coming from Canada, and Canada said that it would retaliate.

Last modified: January 24, 2025