Tesla Model S Norway

Registrations of Teslas in Hong Kong dropped to zero in April

The number of registrations of Tesla electric cars in Hong Kong dropped from about 2,940 in March to zero in April.

Published   |  Photo by Reuters/Stephen Lam
Tesla Model S Norway

First-time registration of Tesla cars in Hong Kong

Tesla Model S Norway

For almost two decades, tax breaks made electric cars cheaper in Hong Kong. The idea was that more of those vehicles meant less air pollution.

Tesla Model S Norway

But Hong Kong recently decided to change the way the tax break worked, and prices increased. A Tesla Model S 60 went from costing $72,900 to $118,400.

Tesla Model S Norway

The resulting drop in registrations show how hard it is for Tesla to survive in some markets without the help of government subsidies.

Tesla Model S Norway

Most EU countries have similar tax breaks. When one of them ended earlier this year, in Denmark, electric car sales dropped by 60%.

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