Tesla's sales seem stalling in Hong Kong as tax breaks end

Washington

TESLA'S sales appear to be stalling in Hong Kong. According to data from the city's transportation department that was analysed and first reported by The Wall Street Journal, not a single newly purchased Tesla model was registered in April after the government in March announced changes to the tax benefits customers can get from buying the electric cars.

The policy started on April 1 and is expected to last until March 2018. According to WSJ, the city capped the tax waiver at HK$97,500 (S$17,280) and is applicable to only first-time owners. Prior to the change in policy, there were 2,939 first-time Tesla registrations in March and around five times that number in February.