Hong Kong Drops EV Tax Break, Tesla Sales Stop

Judith Bessette
Julho 12, 2017

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Sales of Teslas in Hing Kong have stopped, as a recent tax change has almost doubled the price of the auto.

Over in Hong Kong, the slashing of a tax break for electric vehicles (EV) - which came into effect on April 1 - has had an impact on sales of Tesla vehicles in the autonomous territory.

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The drastic change in price and sales of electric cars shows how dependent the industry is on government aid, Business Insider reports. In the month leading up to the removal of the tax exemption, when the Hong Kong consumers knew the price of Teslas was set to rise dramatically, sales increased in the month of March before dropping off completely after the tax break expired. "It's not exactly painting a glowing picture for the future of Tesla in China". The way the United States electric vehicle rebate is set up means that it will end for a particular manufacturer when that company passes 200,000 electric vehicles sold domestically, a figure it is likely approaching.

So the same model now costs $118,400 - same as a Mercedes-Benz. It could also lead cost-conscious buyers looking to move to an electric auto to opt out of enabling AutoPilot initially, which can limit the spread of the semi-autonomous system and the potential vehicles that could be part of the Tesla Network.

Despite the fact that Tesla cars are now almost twice as expensive as they were earlier this year, a spokesperson for Tesla has said that the company expects consumer demand to remain strong in Hong Kong.

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