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Home / Business / Tesla gets a tax exemption on all its cars in China as it raises prices

Tesla gets a tax exemption on all its cars in China as it raises prices



In surprising news for Tesla in China today, Tesla received sales tax exemption for all its electric cars in the country, but it also raised prices at the same time.

The price increase was expected as trade affects the exchange rate and requires adjustments, but the tax exemption comes as a surprise.

China has a 10% purchase tax on cars, but the Secretary of Industry posted an update on their website to add Tesla's Model S, Model X and Model 3 to a list of exceptions.

Tesla shared the news on his official social media account in China.

The automaker said that buyers could now save up to 99,000 yuan ($ 1

3,957.82) on the purchase of a Tesla vehicle. [19659003] The sales tax exemption is more than negating the price increase, which is close to 3% across the Tesla range.

The Chinese government did not give any reason to add the vehicles to the exemption list, but there appears to be an additional EV incentive that Tesla generates the ally did not have access to in the country because it imports the vehicles from the United States.

Tesla is scheduled to start Model 3 production at Gigafactory 3 in Shanghai later this year, but even the more expensive variants of the vehicle such as Model S and Model X will continue to be imported from the United States.

The new incentive also comes when Elon Musk visits Shanghai and meets with government officials.

Electrek & # 39; s Take

This is a big surprise.

I thought Tesla had pretty much missed the train when it comes to big EV incentives, which are starting to phase out in China, but a 10% sales tax exemption is not bad at all.

Every small downward price movement opens up access to a different fraction of the population, and with the Chinese market being so large, this small fraction can represent a lot of volume.

It will probably help Tesla stay strong in the market until they can launch Made-in-China Model 3 deliveries.


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