Tesla Slashes Prices Again, This Time on Model S, Model X Only

Tesla made plenty of headlines in January when it slashed prices on all of its vehicles in Canada and the U.S. This came after the electric vehicle manufacturer failed to meet its delivery forecast for 2022 and lost two-thirds of its market value.

Well, guess what? Tesla is doing it again.

The bad news is that only the most expensive models in the lineup are affected in Canada. The base MSRP of the Model S sedan has been cut from $122,990 to $116,990, while the explosive Model S Plaid is down from $149,990 to $143,990. It’s a drop of $6,000 in both cases.

Photo: Tesla

By comparison, the Model S’ biggest rival, the Porsche Taycan, currently ranges from $125,600-$217,800.

The price cuts are even more substantial when it comes to the Model X crossover, which has gone from $142,990 to $130,990 in base trim. The Model X Plaid now costs $143,990 instead of $156,990.

Photo: Tesla

Unfortunately, prices for Tesla’s most popular and most affordable models have not changed. The Model 3 compact sedan still carries the $54,990 MSRP it got in January, making it eligible to the federal government’s EV rebate of $5,000. The Performance variant also remains at $72,990.

Pricing for the Model 3 Long Range, which will be available later in 2023 with up to 576 km of range, has yet to be announced.

Photo: Tesla

As for the Model Y compact crossover, it continues to be listed at $69,990, while the Performance variant retails from $75,990.

The good news for Model 3 and Model Y customers is that Tesla’s delivery times are much shorter than those of some of the competition. A unit ordered today could be delivered as early as this spring, according to Tesla’s online configurator.

Share on Facebook

More on the subject

NewsUS opens inquiry on Tesla steering wheel detachments
U.S. auto safety officials have opened a preliminary inquiry on Tesla after the steering wheel on its cars completely detached in two newly delivered vehicles, according to a document reviewed Wednesday by AFP. The National Highway Traffic Safety Administration on March 4 opened a "preliminary evaluation" following two instances of …
NewsTesla to Make Big Investment in Mexico Plant, Government Says
Elon Musk's Tesla will open a plant in northern Mexico, making a significant investment in the Latin American nation, Mexican President Andres Manuel Lopez Obrador announced Tuesday. The move, which has yet to be confirmed by Tesla, would be a major boost to Mexico's hopes of benefiting from US companies …
NewsTesla 'Recalls' 360,000 Vehicles With FSD Beta to Fix Software
Tesla is recalling nearly 363,000 electric vehicles (including 20,667 in Canada) because of problems with their driver-assistance technology that heighten crash risk, according to a U.S. regulatory announcement seen by AFP Thursday. The recall affects a range of Model S , Model X , Model 3 and Model Y vehicles …
ElectricTesla Dramatically Cuts Prices in Canada, Model 3 Regains EV Rebate
Just like it did in several other countries in recent days, Tesla yesterday dramatically cut prices on its various models in Canada. This comes after the electric vehicle manufacturer failed to meet its delivery forecast for 2022 and lost two-thirds of its market value. Most notably, the Tesla Model 3 …
ElectricStandard-Range Tesla Model Y With RWD is Back, Starts Under $60K
After dramatically slashing prices on its Model Y crossover (and the rest of its lineup) earlier this year, Tesla is now adding a new entry-level model in Canada with an even lower price. Featuring a single motor and rear-wheel drive, this model starts at $59,990. It’s not only $10,000 cheaper …