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Tesla Sales in Hong Kong Dry Up After Gov't Drops Tax Break (axios.com)

Posted by msmash on from the introducing-the-gov't dept.

Tesla couldn't sell a single car in Hong Kong in April after the government dropped a tax break for electric cars on April 1, the Wall St Journal reports citing government data. From the report: "as a result of the new policy, the cost of a basic Tesla Model S four-door car in Hong Konghas effectively risen to around $130,000 from less than $75,000." There were 2,939 Tesla's registered in Hong Kong as of April. Further reading: Nobody in Hong Kong wants a Tesla anymore.

5 of 103 comments (clear)

  1. Or by Anonymous Coward · · Score: 5, Insightful

    Everyone who wanted one in the short term snapped them up right before the tax went into effect.

    1. Re:Or by Albanach · · Score: 4, Insightful

      Exactly what the article says - there were five times as many registrations in March (the month before the rule went into effect) as in February. Hardly surprising that, when they did a half year worth of business in a month, they now see a decline.

      For some other manufacturers, a decline to zero might be more concerning. I expect in the current Tesla market with only luxury vehicles, the vast majority of customers don't need to wait one more paycheck to afford the purchase.

  2. Explains, why Musk is upset about "Climate" by mi · · Score: 1, Insightful

    To me this is related tightly to why Elon Musk has publicly broken up with Trump over "climate". If, as Trump thinks, climate is not really a big concern and the government will stop paying scientists to say, that it is, Tesla becomes just another car — and an expensive one at that...

    --
    In Soviet Washington the swamp drains you.
  3. One month of data only!! by shilly · · Score: 3, Insightful

    Did the WSJ really publish a story based on just a single month of data showing a fall in sales?? That is ridiculous.

  4. Cars just sold before the price went up by Anonymous Coward · · Score: 4, Insightful

    From the article
    "There were 2,939 first-time Tesla registrations in March just before the new tax rules kicked in, around five times that of the number in February."
    everybody remotely considering buying one, just bought them before the price went up. Check back in six months to a year to see what the real effect is.