Tesla has increased pricing on two of its models in the Canadian market, and one of them is its second-most affordable model on the market. The Model 3 Standard Range Plus, which is the automaker’s best-selling model here, now costs buyers $2,000 CAD than it did at the beginning of October. The MSRP for this variant is now $54,995.
Also getting a price boost is the Model Y compact SUV’s Long-Range Dual Motor version, which now lists at $74,990, or $5,000 more than previous.
The Tesla Model S and Model X retain the same pricing as before here in Canada, though since American consumers have seen prices on these models rise this month, we could still get hit here. Other variants of the Model 3 and Model Y keep their current pricing as well.
There is no word that the price jumps were accompanied by any new updates or features being added for the 2022 model-year. In fact, the best explanation is simply to refer to the law of supply and demand.
Demand, particularly for the Model 3 Standard Range Plus, remains extremely strong on both sides of the Canada-U.S. border, and with many other manufacturers struggling to bring new EVs to market in large quantities due to chronic shortages of semi-conductors and other components, Tesla is in the driver’s seat, so to speak, and can set its asking price without too much pushback.
Tesla has of course not escaped the supply-chain issues afflicting every corner of the industry, and that is surely another explanation for the latest price increases. CEO Elon Musk said as much earlier this month during the annual shareholder’s meeting. Waiting times for the two models that have seen their prices jump here are long: Canadian buyers ordering one today can expect to wait until at least April 2022 to receive their vehicle, and it could be as late as September of next year.
