Tesla Model Y Performance Hits Sweet Spot For EV Incentives In Canada After Price Drop
Portfolio Pulse from Anan Ashraf
Tesla Inc (NASDAQ:TSLA) has made its Model Y Performance SUV eligible for C$5000 in zero-emission vehicle incentives in Canada following a 5.8% price reduction. The price cut brings the vehicle's starting price below the C$70,000 threshold required for the incentive, now starting at C$64,990 after incentives. This adjustment makes all three versions of the Model Y eligible for EV incentives in Canada, aligning with the U.S. where all trims qualify for a federal EV tax credit of $7,500. Tesla's Model 3 rear-wheel drive and Long-range versions are also eligible for C$5000 in Canada.
February 08, 2024 | 4:30 am
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Tesla Inc's Model Y Performance is now eligible for C$5000 in EV incentives in Canada after a price cut, potentially boosting sales.
The price reduction for Tesla's Model Y Performance in Canada not only makes the vehicle more affordable but also qualifies it for significant EV incentives. This strategic pricing adjustment is likely to enhance the vehicle's appeal to Canadian consumers, potentially increasing sales in the short term. Given the importance of incentives in consumer purchase decisions for EVs, this move could positively impact Tesla's market share and financial performance in Canada.
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