Tesla has officially updated its website, confirming that the Model Y Rear-Wheel Drive now qualifies for the new Electric Vehicle Affordability Program (EVAP).
According to Tesla North, the update now allows Canadian buyers to apply the $5,000 EVAP incentive to the all-electric SUV, bringing the price down to $44,990.
To qualify for the EVAP rebate, vehicles must meet the cap set by the federal government and have a total transaction price under $50,000 before taxes, freight, and fees. Tesla now lists the Model Y with a starting price of $49,990 in Canada, so it qualifies.
On Tesla’s website, there’s a box customers can check to apply the EVAP rebate to the pricing. The incentive applied, the final cost should come to about $47,632 once you factor in freight, PDI, OMVIC, tire, AC and other fees.
The EVAP incentive can also be applied with lease options. When leasing the vehicle, the rebate structure varies, and the incentive is prorated based on the term length. A 48-month lease qualifies for the full $5,000, a 36-month lease receives $3,750, and a 24-month lease only gets $2,500, which is intended to promote longer ownership cycles for electric vehicles.
Interestingly, buyers in Quebec can stack the federal rebate program with the provincial Roulez vert rebate, which is currently offering an additional $2,000, making the reduced price of the Model Y only $42,990, making it competitive against the Honda CR-V, Toyota RAV-4, or Hyundai Tucson, depending on the trim.
To add some context, the new EVAP program recently replaced the old iZEV program, which ended after it ran out of funds.
Source: TeslaNorth
