Tesla Slashes Model Y Prices in Canada, Top-End Model Now $3000 Cheaper
Portfolio Pulse from Anan Ashraf
Tesla Inc (NASDAQ:TSLA) has reduced the price of its most expensive Model Y version in Canada by 5.8%, marking the second price cut this month for the Model Y variants. The Model Y Performance now costs C$69,990, down from C$74,290. Earlier price reductions were applied to the rear-wheel drive and long-range versions. These adjustments make the Model Y's starting price equivalent to that of the Model 3 sedan. Tesla's Model Y has become the world's best-selling vehicle model in 2023, with over 1.2 million units delivered.
February 07, 2024 | 4:00 am
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Tesla Inc has implemented another round of price cuts for its Model Y in Canada, with the Model Y Performance now 5.8% cheaper. This follows earlier price reductions for other Model Y variants and positions the Model Y's starting price on par with the Model 3 sedan. Tesla's Model Y has achieved significant sales success, becoming the world's best-selling vehicle model in 2023.
The price reduction in Tesla's Model Y, especially following its achievement as the world's best-selling vehicle model, could stimulate further demand, potentially increasing sales and revenue. This strategic pricing adjustment, coupled with the Model Y's market success, suggests a positive short-term impact on Tesla's stock price. However, the overall market conditions and investor sentiment will also play significant roles.
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