Here we can see the progression of Tesla sales in HK after the subsidies were removed. Of course the 3,697 number is front loaded but the poor Tesla dealer must be twiddling his thumbs dreaming of a sports car that can do 1.9 second 0-100km/h times in heavy HK traffic. 2 sales in the July-August period. Indeed the incentives were generous but just goes to show that the true virtue signaling power of those living in HK is dictated by displaying the wise use of capital than frittering it away trying to save the planet.
An eagle eyed reader spotted this article in the South China Morning Post today showing that private EV registrations in Hong Kong fell to ZERO in April 2017 from 2,964 in March. The SCMP noted; “Since the April 1 introduction of the first registration tax on EVs, vehicle prices have shot up by 50 to 80 per cent, depending on the model, with tax relief now capped at HK$97,500. A Tesla S was HK$570,000 (under the new tax regime, the price is more than HK$900,000)…the domination of Tesla means zero-emissions motoring in Hong Kong has been largely an elitist activity.” HK is 6% of Tesla’s global volume yet the share price is pricing in blue sky.
Yet more evidence that Tesla product can’t stand on its own without massive subsidies. In previous Tesla dispatches the argument has been the car is an ostentatious fashion accessory to show the world one’s commitment to climate change but only if the price is right.