CEO Morning Brief

Tesla to Significantly Raise Prices of All Cars in Canada, Website Shows

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Publish date: Fri, 24 Jan 2025, 10:50 AM
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BENGALURU (Jan 22): Tesla will raise prices of all its cars in Canada from Feb 1, according to notices on its Canadian website, with prices of Model 3 going up by as much as C$9,000 (US$6,254.78, or RM27,795).

Model Y variants will see increases of up to C$4,000, while all versions of Model S and X will rise by C$4,000, according to the website.

Tesla did not provide a reason for the price increase.

The company does not produce cars in Canada, and imports from other factories. It was not immediately clear how many cars Tesla exports to Canada from its Shanghai, China factory and its plants in the United States.

The company did not respond to a Reuters' request for comment outside regular business hours.

The unexpected move by Tesla to raise prices comes as Canadian Prime Minister Justin Trudeau reiterated on Tuesday that his government was ready to respond if US President Donald Trump imposed 25% tariffs on imports from Canada and Mexico on Feb 1.

Canada already imposes a 100% tariff on imports of electric vehicles from China, including Tesla cars manufactured in Shanghai.

Uploaded by Liza Shireen Koshy

Source: TheEdge - 24 Jan 2025

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