Tesla Hikes Model 3, Y Prices In Canada By C$1000 After Announcing Price Increase In China

EV giant Tesla Inc. (NASDAQ:TSLA) has increased the price of all Model Y and Model 3 variants in Canada by C$1,000 (about $692).

What Happened: The Model Y now starts at C$60,990 ($48,485) in Canada for the base rear-wheel-drive variant and at C$69,990 for the more premium Performance variant.

Tesla has likewise hiked the prices of all Model 3 variants in the country. The Model 3 now starts at C$55,990, up from C$54,990.

The Long Range All-Wheel Drive variant Model 3 now starts at C$60,990, while the Performance variant starts at C$70,990.

Why It Matters: Tesla’s price hikes are not limited to Canada.

Last week, the company hiked the price of all variants of the Model 3 in China by 3,600 yuan.

Tesla also launched a refreshed Model Y in China on Thursday. The refreshed vehicle starts at 263,500 yuan on Tesla’s China website, nearly 5.4% pricier than the older version of the vehicle which started at 249,900 yuan. 

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• Tesla Launches Refreshed Model Y In China Amid Rising Competition

Photo courtesy: Tesla