Enlarge / Elon Musk (C), the co-founder of luxury all-electric US car maker Tesla, speaks at the StartmeupHK Venture Forum in Hong Kong on January 26, 2016. (credit: PHILIPPE LOPEZ/AFP/Getty Images)
According to The Wall Street Journal, Hong Kong’s transportation department registered 2,939 new Teslas in March and zero in April after a new-car tax exemption for electric vehicles (EVs) was ended on April 1.
Hong Kong levies a new-car tax at the time of sale that can be quite hefty, in some cases as much as the car itself. The EV exception previously made Hong Kong one of Tesla’s most popular markets, but the autonomous territory decided to start imposing the tax on EVs again earlier this year as a way to combat traffic congestion. The WSJ says the decision is effective for one year, through March 2018, but the government has said it will review the policy before then.
Instead of waiving the new-car tax for EVs, Hong Kong is now offering a maximum deduction of HK$97,500 (a bit less than US$12,500) on the new-car tax.
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