Tesla plays with Model Y customers' nerves
This really isn't the first time Tesla has played with the prices of its vehicles, and it won't be the last either, but customers of its Model Y must surely have been breathing a sigh of exasperation since last Friday.
In fact, the company has raised the price of two versions of its popular compact electric crossover by $1,000, whereas it had reduced it by $4,000 as recently as the beginning of February, reaching parity with the Model 3 sedan.
The entry-level Model Y with rear-wheel drive now costs $54,990 (MSRP), while the long-range two-motor model is priced at $64,990. These models can travel 394 km and 497 km respectively on a fully charged battery. In Quebec, both are eligible for subsidies totalling $12,000 - at least until December 31, 2024, as the provincial rebate will drop from $7,000 to $4,000 after that date.
More expensive becomes cheaper
Meanwhile, the range-topping Model Y Performance (459 km range) has seen its MSRP drop from $74,290 to $69,990. At the same time, it qualifies for the $5,000 federal subsidy, but not for the Quebec government subsidy, since its price remains above $65,000.
One of its main competitors, the Ford Mustang Mach-E GT Performance Edition, has recently benefited from a colossal $13,000 reduction, bringing it nose-to-nose in terms of price ($69,995). We're talking here about the 2023 model, as the 2024s are not yet on sale.
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.
Unlike the Model 3, which gets a major update for 2024, the Model Y remains fairly unchanged, but expect Tesla to bring it the same kind of improvements next year.
