•    Tesla has reduced the pricing of its Model 3 in Canada by $5,000.

•    Dropping the price to $54,990 makes the model eligible for government rebates.

•    The company's price cuts, also being applied to other models, are intended to make the products more competitive as rivals multiply on the market.

Tesla is bringing in the new year with price cuts across its lineup in many markets around the world, including Canada. Most relevant for consumers here is the $5,000 drop in pricing for the all-wheel-drive Model 3, the brand's entry-level vehicle in Canada. 

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