Published on August 30, 2019 |
by Kyle Field
30. August 2019 by Kyle Field
Tesla gets a new leg in China, as the Ministry of Industry and Information Technology (MIIT) dropped news on its website today that it would exempt sales tax for all Tesla vehicles that is sold in the country.
Combined with the location of Tesla Model 3 production this year and Model Y production next year, and helped Tesla avoid import duties and give the White House quite the finger, Tesla must feel bullish on China. This news is just the latest in a series of wins for Tesla in the world's largest car market.
The biggest news from Tesla China 🇨🇳, all vehicles were exempt from sales tax. Here is a video posted online by Tesla Sales in China. #Tesla #TeslaChina # China # 特斯拉 # 中国 $ TSLA pic.twitter.com/aSIDlL2zpt
– Jay in Shanghai (@JayinShanghai) August 30, 2019
Getting a pass on the purchase tax means saving 10% of the top of the purchase price outside a door for a Tesla. That means savings of up to 99,000 yuan ($ 13,960), according to a post on Tesla's official WeChat account.
The exemption applies to all 16 vehicle configurations that Tesla currently sells in the country, according to official MIIT documents.
This is guaranteed to give Tesla a boost in sales in the country as the excitement builds for the first Made In China Tesla Model 3s, expected this year from the soon-to-be-completed Tesla Gigafactory 3 in Shanghai, China.
Tesla's Chinese revenues climbed 42% to $ 1.5 billion in the first half of 2019, accounting for 13.5% of the company's total revenue. Where will it be in the second half and first half of 2020?
The construction of Tesla Gigafactory 3 has proven to be a source of great national pride for China. Locals continue to flock to the spot to fly drones over it, take pictures next to it and enter the virtual line of the first of the Made In China Tesla Model 3s that will begin rolling out the door later this year.
Tesla estimates to produce 250,000 Tesla Model 3 and Model Y cars in China. Though, it's not hard to imagine climbing as new models being added.
In the market for a Tesla? Use my referral code to get 1000 miles of free supercharging for both of us. This makes it easier for me to drive around to all the crazy tech events in Southern California and beyond. http://ts.la/kyle623??19199009009????19659007????1919900900: Source: Reuters