Tesla is under scrutiny in Hong Kong for possibly taking advantage of tax exemption on

500 cars ahead of phaseout

– May. 19th two thousand seventeen Ten:Ten am ET

In Hong Kong, it was partly because buyers rushed to buy EVs before the aggressive phaseout of its tax exemption for electrical vehicles beginning in April.

A fresh report now suggests that buyers were not the only people registering Tesla vehicles before the end of the tax exemption, which can almost dual the price of a Model S or Model X, but that Tesla could also have registered hundreds of vehicles.

Sing Tao Daily published the report (Chinese) based on information leaked from the HKAA, Hong Kong Automobile Association, an organization not exactly known to be pro-electric vehicles.

They say that five hundred ten Tesla vehicles were registered by a “non-personal possessor”, which they are suggesting is Tesla Hong Kong. They estimate that registering those unsold cars before April 1st led to five hundred million yuan (

$72 million USD) in tax exemption.

When the phaseout was confirmed in February, there were over 7,000 electrical vehicles in Hong Kong with Tesla still maintaining over 80% market share. In March alone, Two,964 electrified vehicles were registered in the city just before the embark of the switch in incentives in April – or about Trio,908 during the very first quarter.

That’s more EVs added in Hong Kong in the very first three months of two thousand seventeen than during the entire year in 2016. Therefore, the majority of the increase is undoubtedly attributable to private buyers taking advantage of the tax exemption before the phaseout.

Tesla HK didn’t confirm that they were behind the vehicle five hundred ten vehicles registered by a “non-personal proprietor” and said that they only had a “petite number” of inventory vehicles presently for sale.

We found that they are presently only listing twenty eight fresh inventory vehicles on their website in Hong Kong and they don’t have any certified pre-own vehicles in the area.

After we published our report on Hong Kong’s tax exemption helping sales in the very first quarter, David Tamberrino, Goldman Sachs auto analyst, asked Tesla CEO Elon Musk if he thinks it inflated request and that it will have an influence in the 2nd quarter. Musk answered:

“Yes. There was some pull forward request in Hong Kong, but that’s one city on earth. So there’s no influence on our capability to achieve our delivery target for Q2.”

An increase in Tesla’s vehicles in Hong Kong could also be explained by Tesla’s overall inventory increase to support its fleet of loaner vehicles.

Earlier this month, Tesla President of Global Sales and Service Jon McNeil announced that Tesla would be enlargening the fleet of loaner vehicles so that Tesla owners would always have access to Tesla’s latest top-of-line vehicle when their car is in service.

Considering Hong Kong has one of the highest concentration of Tesla vehicles (likely approaching Ten,000 owners), it’s normal that they would need a large fleet of loaners and that they would aim to supply and register them before the end of the tax exemption.

Tesla is under scrutiny in Hong Kong for possibly taking advantage of tax exemption on ~500 cars ahead of phaseout, Electrek

Tesla is under scrutiny in Hong Kong for possibly taking advantage of tax exemption on

500 cars ahead of phaseout

– May. 19th two thousand seventeen Ten:Ten am ET

In Hong Kong, it was partly because buyers rushed to buy EVs before the aggressive phaseout of its tax exemption for electrical vehicles beginning in April.

A fresh report now suggests that buyers were not the only people registering Tesla vehicles before the end of the tax exemption, which can almost dual the price of a Model S or Model X, but that Tesla could also have registered hundreds of vehicles.

Sing Tao Daily published the report (Chinese) based on information leaked from the HKAA, Hong Kong Automobile Association, an organization not exactly known to be pro-electric vehicles.

They say that five hundred ten Tesla vehicles were registered by a “non-personal proprietor”, which they are suggesting is Tesla Hong Kong. They estimate that registering those unsold cars before April 1st led to five hundred million yuan (

$72 million USD) in tax exemption.

When the phaseout was confirmed in February, there were over 7,000 electrical vehicles in Hong Kong with Tesla still maintaining over 80% market share. In March alone, Two,964 electrified vehicles were registered in the city just before the begin of the switch in incentives in April – or about Three,908 during the very first quarter.

That’s more EVs added in Hong Kong in the very first three months of two thousand seventeen than during the entire year in 2016. Therefore, the majority of the increase is certainly attributable to private buyers taking advantage of the tax exemption before the phaseout.

Tesla HK didn’t confirm that they were behind the vehicle five hundred ten vehicles registered by a “non-personal holder” and said that they only had a “petite number” of inventory vehicles presently for sale.

We found that they are presently only listing twenty eight fresh inventory vehicles on their website in Hong Kong and they don’t have any certified pre-own vehicles in the area.

After we published our report on Hong Kong’s tax exemption helping sales in the very first quarter, David Tamberrino, Goldman Sachs auto analyst, asked Tesla CEO Elon Musk if he thinks it inflated request and that it will have an influence in the 2nd quarter. Musk answered:

“Yes. There was some pull forward request in Hong Kong, but that’s one city on earth. So there’s no influence on our capability to achieve our delivery target for Q2.”

An increase in Tesla’s vehicles in Hong Kong could also be explained by Tesla’s overall inventory increase to support its fleet of loaner vehicles.

Earlier this month, Tesla President of Global Sales and Service Jon McNeil announced that Tesla would be enlargening the fleet of loaner vehicles so that Tesla owners would always have access to Tesla’s latest top-of-line vehicle when their car is in service.

Considering Hong Kong has one of the highest concentration of Tesla vehicles (likely approaching Ten,000 owners), it’s normal that they would need a large fleet of loaners and that they would aim to produce and register them before the end of the tax exemption.

Tesla is under scrutiny in Hong Kong for possibly taking advantage of tax exemption on ~500 cars ahead of phaseout, Electrek

Tesla is under scrutiny in Hong Kong for possibly taking advantage of tax exemption on

500 cars ahead of phaseout

– May. 19th two thousand seventeen Ten:Ten am ET

In Hong Kong, it was partly because buyers rushed to buy EVs before the aggressive phaseout of its tax exemption for electrical vehicles embarking in April.

A fresh report now suggests that buyers were not the only people registering Tesla vehicles before the end of the tax exemption, which can almost dual the price of a Model S or Model X, but that Tesla could also have registered hundreds of vehicles.

Sing Tao Daily published the report (Chinese) based on information leaked from the HKAA, Hong Kong Automobile Association, an organization not exactly known to be pro-electric vehicles.

They say that five hundred ten Tesla vehicles were registered by a “non-personal holder”, which they are suggesting is Tesla Hong Kong. They estimate that registering those unsold cars before April 1st led to five hundred million yuan (

$72 million USD) in tax exemption.

When the phaseout was confirmed in February, there were over 7,000 electrical vehicles in Hong Kong with Tesla still maintaining over 80% market share. In March alone, Two,964 electrified vehicles were registered in the city just before the embark of the switch in incentives in April – or about Trio,908 during the very first quarter.

That’s more EVs added in Hong Kong in the very first three months of two thousand seventeen than during the entire year in 2016. Therefore, the majority of the increase is undoubtedly attributable to private buyers taking advantage of the tax exemption before the phaseout.

Tesla HK didn’t confirm that they were behind the vehicle five hundred ten vehicles registered by a “non-personal possessor” and said that they only had a “puny number” of inventory vehicles presently for sale.

We found that they are presently only listing twenty eight fresh inventory vehicles on their website in Hong Kong and they don’t have any certified pre-own vehicles in the area.

After we published our report on Hong Kong’s tax exemption helping sales in the very first quarter, David Tamberrino, Goldman Sachs auto analyst, asked Tesla CEO Elon Musk if he thinks it inflated request and that it will have an influence in the 2nd quarter. Musk answered:

“Yes. There was some pull forward request in Hong Kong, but that’s one city on earth. So there’s no influence on our capability to achieve our delivery target for Q2.”

An increase in Tesla’s vehicles in Hong Kong could also be explained by Tesla’s overall inventory increase to support its fleet of loaner vehicles.

Earlier this month, Tesla President of Global Sales and Service Jon McNeil announced that Tesla would be enhancing the fleet of loaner vehicles so that Tesla owners would always have access to Tesla’s latest top-of-line vehicle when their car is in service.

Considering Hong Kong has one of the highest concentration of Tesla vehicles (likely approaching Ten,000 owners), it’s normal that they would need a large fleet of loaners and that they would aim to produce and register them before the end of the tax exemption.

Tesla is under scrutiny in Hong Kong for possibly taking advantage of tax exemption on ~500 cars ahead of phaseout, Electrek

Tesla is under scrutiny in Hong Kong for possibly taking advantage of tax exemption on

500 cars ahead of phaseout

– May. 19th two thousand seventeen Ten:Ten am ET

In Hong Kong, it was partly because buyers rushed to buy EVs before the aggressive phaseout of its tax exemption for electrified vehicles embarking in April.

A fresh report now suggests that buyers were not the only people registering Tesla vehicles before the end of the tax exemption, which can almost dual the price of a Model S or Model X, but that Tesla could also have registered hundreds of vehicles.

Sing Tao Daily published the report (Chinese) based on information leaked from the HKAA, Hong Kong Automobile Association, an organization not exactly known to be pro-electric vehicles.

They say that five hundred ten Tesla vehicles were registered by a “non-personal proprietor”, which they are suggesting is Tesla Hong Kong. They estimate that registering those unsold cars before April 1st led to five hundred million yuan (

$72 million USD) in tax exemption.

When the phaseout was confirmed in February, there were over 7,000 electrical vehicles in Hong Kong with Tesla still maintaining over 80% market share. In March alone, Two,964 electrical vehicles were registered in the city just before the commence of the switch in incentives in April – or about Trio,908 during the very first quarter.

That’s more EVs added in Hong Kong in the very first three months of two thousand seventeen than during the entire year in 2016. Therefore, the majority of the increase is certainly attributable to private buyers taking advantage of the tax exemption before the phaseout.

Tesla HK didn’t confirm that they were behind the vehicle five hundred ten vehicles registered by a “non-personal possessor” and said that they only had a “puny number” of inventory vehicles presently for sale.

We found that they are presently only listing twenty eight fresh inventory vehicles on their website in Hong Kong and they don’t have any certified pre-own vehicles in the area.

After we published our report on Hong Kong’s tax exemption helping sales in the very first quarter, David Tamberrino, Goldman Sachs auto analyst, asked Tesla CEO Elon Musk if he thinks it inflated request and that it will have an influence in the 2nd quarter. Musk answered:

“Yes. There was some pull forward request in Hong Kong, but that’s one city on earth. So there’s no influence on our capability to achieve our delivery target for Q2.”

An increase in Tesla’s vehicles in Hong Kong could also be explained by Tesla’s overall inventory increase to support its fleet of loaner vehicles.

Earlier this month, Tesla President of Global Sales and Service Jon McNeil announced that Tesla would be enhancing the fleet of loaner vehicles so that Tesla owners would always have access to Tesla’s latest top-of-line vehicle when their car is in service.

Considering Hong Kong has one of the highest concentration of Tesla vehicles (likely approaching Ten,000 owners), it’s normal that they would need a large fleet of loaners and that they would aim to produce and register them before the end of the tax exemption.

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