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Sales of Tesla vehicles in Hong Kong crash

By Faiming_low on 12 Jul 2017

Attached Image Sales of Tesla vehicles in Hong Kong have come to a halt after the government slashed an electric vehicle tax break on 1st of April.

As reported by The Wall Street Journal, no new Tesla Model S or Model X vehicles were registered in April and in May according to Hong Kong’s Transportation Department. In fact, there were just five new, privately owned electric vehicles registered in the whole Chinese territory.

In contrast, 2,939 units were registered in March as locals rushed to purchase the electric cars after the scrapping of the tax incentives was announced in February.

After the government announced that the tax would only be waived on the first $12,500 (S$17,264) of a new electric vehicle purchase price, prices of the a base Tesla Model S jumped from below $75,000 (S$103,589) to around $130,000 (S$179,554). Before this revised tax break was in place, tax for the registration of the a new electric vehicle was totally waived off.

Despite the drop in sales, Tesla is not concerned.

“Tesla welcomes government policies that support our mission and make it easier for more people to buy electric vehicles, however, our business does not rely on it. At the end of the day, when people love something, they buy it.”


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Faiming_low
Written by Faiming_low
Since young, Fai Ming has always centered his life around cars. In fact his first word was 'car' and not 'mum' or 'dad'. Aren't kids cute?



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Still2016 Jul 14 2017 05:09 PM
Its often a want and not a need.
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