Thursday, January 20, 2022

Tesla’s Model 3 no longer eligible for EV rebate (iZEV) in Canada

The Tesla Model 3 is no longer eligible for an electric car rebate (iZEV) in Canada. This news follows Tesla announcing a price increase to its standard range and standard range plus models effective from late November. Due to the price increases they are now exceeding the iZEV program’s eligibility requirements.

Source: Canada IZEV Program

The Tesla website lists the base price for the Model 3 as $59,990 in Canada. That is above the $45,000 qualifying price to get the $5,000 rebate. Higher-end versions of the same model can cost up to $55,000 and still be eligible due to the trim level.

Transport Canada on its website states that only Tesla Model 3 ordered before 23 November will remain eligible for the purchase premium through the iZEV scheme.

In 2019, the company had lowered the Model 3 base price to just under $45,000 to make it eligible for the program, which reportedly began in May of that year.

As a result, nearly 35,000 Teslas qualified for it, making the Model 3 the best-selling subsidised electric can in Canada. For comparison, the Hyundai Kona is the next most popular electric vehicle. The company has submitted 12,890 cars for the rebate to date.

Tesla has not commented on the price change or possible repercussions. It is, however, likely that the new pricing follows changes in the listings and range specifications the company had implemented at the beginning of November.

However, while there is some concern that the new pricing will hamper Tesla’s sales in the country, the Model 3 was popular in Canada before the federal incentive came in.

See also  Tesla deliveries up 87% YOY , Tesla Stock up 13.5%
Leannehttps://wegoelectric.net
Hi I'm Leanne. I'm a big fan of electric cars (drive a Model 3 myself) and support the movement to go electric! I hope you enjoy my Articles here on the website.
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