Tesla has announced steep price increases for its vehicles in Canada, with adjustments of up to CA$9,000 set to take effect on February 1, 2025. This move impacts nearly all models, with the Model 3 Performance trim seeing the steepest hike, rising from $70,990 to $79,990 Canadian. The Model Y, Model S, and Model X will each see a flat increase of CA$4,000 across all trims. Notably, the Cybertruck remains unaffected by these changes.
These price hikes coincide with the expiration of Canada’s federal EV incentive program, which previously offered CA$5,000 rebates on eligible vehicles, further increasing the price of Tesla vehicles.
Additionally, the Canadian dollar’s recent decline against the US dollar and looming trade tensions between the U.S. and Canada may have influenced Tesla’s decision. President Trump proposed a 25% tariff on Canadian goods, and Tesla may be expecting Canada to retaliate with a similar tariff on US goods. However, it’s interesting that Tesla has chosen to raise prices so drastically before any tariffs have been announced.
Price Increases
Model
Price Increase
Model 3 Long Range RWD
CA $4,000 ($2,800 USD)
Model 3 Long Range AWD
CA $8,000 ($5,600 USD)
Model 3 Performance
CA $9,000 ($6,300 USD)
Model Y
CA $4,000 ($2,800 USD)
Model S
CA $4,000 ($2,800 USD)
Model X
CA $4,000 ($2,800 USD)
Cybertruck
$0
Buyers
This could be a critical time to act for prospective buyers, with the price increase going into effect in just about a week. Tesla’s online configurator allows customers to lock in current prices by placing an order before February 1st. The company’s referral program also offers CA$1,300 off Model Y, Model S, and Model X purchases, providing additional savings before the price hike takes effect.
It’s not clear how much these adjustments will impact Tesla sales in Canada. If the increases are related to an upcoming tariff, then they’ll impact other manufacturers as well. We may see a potential surge in orders ahead of the February 1 deadline, especially for the AWD and Performance variants of the new Model 3, which will see the largest increase.
The price increase is expected to impact the new Model Y as well, which was announced last night for North America and Europe. Deliveries for the new model begin in March.
If you’re on the fence about whether you should order a new Tesla, now may be a good time to place your order. Tesla offers the ability to cancel your order, but buyers would lose their deposit.
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Tesla has officially launched the refreshed Model Y in North America and Europe, just 13 days after the launch for the Asia-Pacific Markets.
Just like the other markets, Tesla will be starting with the Launch Edition, which will include FSD and Acceleration Boost. It will also include other smaller details such as Launch Edition badging, puddle lights, special wordmark logos on the door sill plates, and wireless charging pads, as well as an exclusive textile trim and black vegan suede interior.
The new Model Y is available for pre-order immediately but will only begin shipping in March, which is surprisingly sooner than the market where it was initially unveiled. Due to the new model, Tesla has also begun to offer some compelling inventory discounts for the now, last-gen Model Y.
Pricing
Pricing for the new Model Y includes the Launch Edition package - similar to the Foundation Series Cybertruck pricing - a premium launch bundle that will give you a fair amount of additional features and get you earlier access to the new Model Y.
What’s unique with this launch is that color and wheel selection are included in the price - so you can choose from Stealth Grey, Pearl White Multicoat, Ultra Red, and Quicksilver for the colors without any additional fees. You can also pick from the 19” Crossflow wheels or the 20” Helix 2.0 wheels.
Not a Tesla App
Tesla did not announce the price for the non-Launch Edition versions of the vehicle. This includes the RWD, Long Range AWD, and Performance variants. We’ll likely see these launch in the coming months but expect Tesla to continue to sell the Launch Edition as long as there’s demand. Given that the Model Y is the world’s best-selling vehicle, it could be a while before we see a non-bundle version.
Tesla’s site currently only lists the new Model Y with its Long-Range All-Wheel Drive variant. The Long-Range Rear-Wheel Drive variant is currently unavailable in North America and Europe, but the specs are listed on the “Compare Models” page.
Model
Price (USD)
Price (CAD)
Price (EU)**
New Model Y LR AWD
$59,990
$84,990
€49,990
2024 Model Y Performance
$51,490
$73,990
€52,990
2024 Model Y LR AWD
$47,990
$68,990
€58,990
2024 Model Y LR RWD
$44,990
$64,990
€61,990
*Canadian Prices include the recent price increase.
**EU prices may vary by ordering nation.
The new Model Y comes in well above the price for the Performance variant of the previous Model Y. However, remember that this includes the $2,000 Acceleration Boost package, the $8,000 FSD package, and all of the other smaller add-ons. If you were already planning to buy the FSD and Acceleration Boost packages, it ends up being a decent deal, but the biggest attraction is the ability to get your Model Y much sooner.
Metallic infrared reflective coating on all glass for better heat reflection
Power-actuated second-row vents
One stalk for signaling. Shifting is now on the main screen.
The front-end view.
Not a Tesla App
Asia-Pacific Differences
RWD Variant: There are three key differences for the North American and European launches, versus the Asia-Pacific launch. First off, the Long Range Rear-Wheel Drive variant isn’t available for ordering at this time. That’s a pretty big hit - because it was the far more affordable version of the refreshed Model Y. With the new pricing forcing buyers to buy FSD and Acceleration Boost, making it more expensive than the Performance model, it could lead some buyers to hold off until the Launch Edition is over.
Glacial Blue: Second, the new color - glacial blue - isn’t making its way to North America or Europe at this time. In fact, the color palette for the Model Y appears to be limited to Stealth Grey, Pearl White Multicoat, Ultra Red, and Quicksilver.
Tow Hitch: Third - and honestly the most exciting - a class II tow hitch, capable of towing the same 3,500 lbs of weight, is available in North America and Europe, and it is included as part of the features for the Launch Edition.
With deliveries slated for March, we’re excited to see the first few arrive in North America and Europe arrive in the next 5-10 weeks. We’re sure the refreshed Model Y will be making its way to Tesla showrooms, as well as Auto Shows in both markets sometime soon - so stay tuned.
Last night, Tesla released software update 2024.45.32.5, which includes updated versions of FSD for HW3 and HW4 vehicles. More specifically, this update includes FSD V12.6.2 for HW3 and FSD V13.2.5 for HW4 models (how to check if you have HW3 or HW4).
While there aren’t new features in this update and the FSD release notes remain the same, it does include bug fixes, which should help these FSD updates go to a wider audience.
HW3 Model 3
What’s most interesting about this update is that it’s the first time a version of FSD V12.6 is going out to the Model 3 with HW3. Previously, it was only available for the redesigned Model S, Model X, and Model Y. The Cybertruck has only ever been available with HW4, which makes the Model 3 the lone vehicle left out of the FSD 12.6 release for unknown reasons.
The FSD hardware for the Model 3 and Model Y is identical, but the camera placements shift slightly due to the different vehicle body shapes, so it’s possible that played a role.
After a long wait, Model 3 owners are finally getting a chance to try out End-to-End on the Highway, as well as many other improvements.
FSD V12.6.2 Improvements
FSD V12.6.2 shares the same changelog as V12.6.1 - so we’re not expecting major changes besides bug fixes on this particular release, at least for vehicles coming from V12.6.1. Instead, it seems the primary focus of this update is to address compatibility for the Model 3.
Overall, V12.6 is far closer to V13 than it is to V12.5.4.2 - and it really does feel that way. It is an impressive feat from Tesla to make such big and positive changes for a platform that they’ve admittedly been having some difficulties in obtaining better results. However, this really underlines the fact that they’re still committed and trying very hard to achieve Unsupervised FSD even on HW3.
The other bit of good news is that this latest FSD update is based on update 2024.45.32.x, which means that it will be available to all vehicles. While Tesla has released the next major update, version 2025.2, it’s currently only available internally. If you’ve been thinking about subscribing to FSD, now may be a good time, since you’ll qualify to receive the latest HW3 or HW4 FSD version once it rolls out widely.
Legacy Model S and Model X
While the update has begun to roll out to Model 3’s for the first time, at this point in time, we haven’t seen any legacy Model S or Model X vehicles included in this update. Those vehicles, for now, are still on FSD V12.5.4.2.
However, we do expect Tesla to add support for these vehicles. The question is whether that’s included in this update or whether it’ll be a future release.
This update has barely started rolling out - the first vehicles started receiving the update last night in a small batch. However, we will hopefully see more waves in the coming days that will progressively get larger. Expect this update to take at least two weeks to go out to the majority of HW3 vehicles if major issues aren’t found.
![Tesla's Hidden 'Elon Mode' Unveiled: A Sneak Peek into the Future of FSD [Video]](https://www.notateslaapp.com/images/news/2022/fsd-beta-inside_300w.jpg)
