Tesla cut the price of the Model 3 in Canada so buyers can get a government tax credit
- Tesla Model 3's are now eligible for a Canadian government tax credit.
- The company lowered prices in order for the cars to be eligible.
- The cheapest Model 3 in Canada now runs just over $55,000 inclusive of fees.
Tesla has lowered the price of its Model 3 sedan for Canadian customers in order for the vehicle to be eligible for a government tax credit in the country.
When the incentive program was first announced earlier in April, all Tesla models were above the minimum $55,000 CAD maximum price and therefore could not qualify. That changed Wednesday, when Tesla dropped the price in Canada to $53,700 CAD (plus a $1,300 CAD destination and documentation fee.)Both the standard range and standard range plus cars are now listed on the government's eligible vehicles page.
In 2018, Tesla surpassed the limit of vehicles sold for the US government's similar tax credit. Once the automaker passed 200,000 cars sold, the incentive was halved to $3,750 in January.
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- Elon Musk says Tesla's cars will defy the laws of the auto market and become more valuable over time. Experts say he's probably wrong.
Get the latest Tesla stock price here.