Tesla Model Y now as affordable as Model 3
Tesla continues to slash prices. Already reduced a few times in 2023, the popular Model Y compact crossover has seen its prices lowered once again in the last few days. And Quebec consumers in particular will be delighted.
The entry-level, single-engine, rear-wheel-drive version has been reduced from $57,990 to $53,990 (excluding various fees), making it as affordable as the Model 3 sedan. The latter, however, retains a range advantage, with an official rating of 438 km versus 394 km for the Model Y.
At the same time, the long-range version, with two engines and all-wheel drive, has also benefited from a $4,000 reduction, from $67,990 to $63,990. This is still the same price as an equivalent Model 3, although the range is somewhat shorter (497 km vs. 548 km).
More good news: by falling below the $65,000 limit of Quebec's Roulez vert program, this more enduring and more expensive Model Y now becomes eligible for the $7,000 subsidy, in addition to the $5,000 federal rebate already applicable.
As for the range-topping Model Y Performance (459 km range), its starting price remains at $74,290. It is the only model not eligible for government subsidies.
According to estimates published by Automotive News Data Center, Tesla would have sold approximately 18,500 Model Ys in Canada in 2023, up 131% on the previous year. These price adjustments will only help it further.
Unlike the Model 3, which receives a major update for 2024, the Model Y remains fairly unchanged, but it's written in the sky that the company will bring it the same kind of improvements in the medium term. The vehicle is currently in its fifth year on the market.
