I expected the Model Y to beat the RAV4 hybrid easily over ten years. With no subsidies, it beats it by 69 $.
Here is the whole calculation, because that is where it gets interesting. Part 2 of the series: what it actually costs. The compact SUV, the real market in Quebec. Quebec numbers, Canadian dollars.
THE THREE SUVS
Honda CR-V LX AWD 2026, the entry gas version. 43,197 $ before tax, freight, delivery and dealer fees included. Price pulled from Honda Canada’s configurator, for Quebec.
Toyota RAV4 Hybrid LE 2026, all-wheel drive. 40,504 $ before tax, all in, from Toyota Canada’s configurator. Toyota no longer sells a gas-only RAV4: since 2026, it is hybrid or nothing.
Tesla Model Y rear-wheel drive. 49,990 $, plus 2,500 $ freight and delivery, 100 $ air conditioning levy and 18 $ tire levy. Total 52,608 $ before tax, delivered in Laval.
I took the entry version of all three, so nobody can say I inflated the other two. And I will say it before anyone else does: the base Model Y is rear-wheel drive, the other two are all-wheel drive.
THE ASSUMPTIONS, SAME AS PART 1
20,000 km a year, for 10 years. Taxes included throughout. Gas at 2.00 $ a litre: Quebec’s energy board logged 201.7 cents average for the Montreal region for the week of October 5.
Natural Resources Canada rates the CR-V at 8.4 L/100 km combined and the RAV4 hybrid at 5.5. For the Corolla, I used 7.5 in real driving instead of its 6.75 rating, 11 % more. I apply the same 11 % to both: 9.3 for the CR-V, 6.1 for the RAV4.
The Model Y is rated 15.4 kWh/100 km. I raise it 20 %, to 18.5, for winter and real driving. That is a bigger gap than I give the other two, on purpose.
Electricity at 0.25 $ per kWh, deliberately high. At home, Hydro-Québec’s residential rate works out to about 12.8 cents with tax in the second tier. Quebec’s public fast chargers run 0.38 $ to 0.62 $. So my 0.25 $ assumes a lot of fast charging. That is like doing about a third of your charging at 0.50 $ fast chargers, and the rest at home.
And the 125 $ annual registration contribution on electric vehicles, starting in 2027: 1,219 $ over nine years. It is in the table.
THE TABLE
Honda CR-V gas Purchase, tax in: 49,666 $ Gas over 10 years: 37,333 $ Total: 86,999 $
Toyota RAV4 hybrid Purchase, tax in: 46,570 $ Gas over 10 years: 24,444 $ Total: 71,014 $
Tesla Model Y Purchase, tax in: 60,486 $ Electricity over 10 years: 9,240 $ Registration contribution: 1,219 $ Total: 70,945 $
Against the gas CR-V, the Model Y costs 16,054 $ less over ten years. Against the RAV4 hybrid, the gap is 69 $, in other words a dead heat.
If I take the official ratings as they are, with no real-world gap on either side, the RAV4 actually comes out ahead, by 835 $. I am giving you that one, you would have worked it out.
WHAT TIPS THE BALANCE
Charging at home. If you charge mostly at home, at about 12.8 cents, the Model Y comes to 66,436 $ over ten years, 4,578 $ less than the RAV4 hybrid, still without a cent of subsidy.
The incentives, and one of them has 61 days left. Quebec’s rebate still pays 2,000 $ until 31 December 2026, zero in 2027, and registration date is what counts. The federal program pays 5,000 $ at the point of sale in 2026, 4,000 $ in 2027. The rear-wheel-drive Model Y is on Transport Canada’s official list: it is built in Berlin, and Germany is covered by Canada’s free trade agreement with Europe. With both, the gap climbs to 7,069 $ against the RAV4 and 23,054 $ against the CR-V.
Mileage. At 30,000 km a year, the gap against the RAV4 hybrid grows to 7,672 $. At 40,000, to 15,274 $.
WHERE THE MONEY GOES
The RAV4 is assembled in Ontario, Toyota says so on its site. The Model Y comes from Germany. I will say it before anyone else does.
But over ten years, the CR-V burns 37,333 $ of gasoline and the RAV4 hybrid 24,444 $. That money leaves Quebec, one week at a time. The Model Y’s 9,240 $ of electricity stays here, and Hydro-Québec paid a 2.2 billion dollar dividend to the provincial government in 2025.
WHAT IS NOT IN THE TABLE
No oil changes, no spark plugs, no belts, no exhaust. The hybrid still needs them, even if it is easier on its brakes. The Model Y does not. And a cabin that keeps its new-car smell longer, with no gas smell.
The drive, too: the torque is there right away, and the battery in the floor lowers the centre of gravity. You feel it in a curve.
I put no number on any of that, for lack of a solid ten-year Quebec source. But it all leans the same way.
The RAV4 hybrid is not a bad choice, and I will not tell you otherwise. The gas SUV, though, costs 16,000 $ more than everybody thinks. And if you are torn between the hybrid and the electric, December 31 is getting close.
What about you: RAV4 hybrid or Model Y?
Next in the series: the pickup.
Part 2 of 4 in the series What it actually costs.
Sources: Honda Canada, Toyota Canada, Tesla Canada, Régie de l’énergie du Québec, Hydro-Québec, Circuit électrique, Natural Resources Canada, Quebec Ministry of Finance (Budget 2025-2026), Québec.ca, Transport Canada (EVAP).