OEMs – Page 4664 – I wish I had more to offer

Here And Now: First Deliveries Of The New Toyota GR Supra To UK Customers

The wait is over. From today, the first UK customers are taking delivery of their new Toyota GR Supra, completing a remarkable comeback story for one of the world’s most celebrated sports cars. It is a year-and-a-half since Toyota confirmed the long-running rumour that a fifth generation Supra would be built, and 10 months since… Continue reading Here And Now: First Deliveries Of The New Toyota GR Supra To UK Customers

Kia Motors posts global sales of 228,871 units in August

Kia Motors Corporation announced 228,871 units of global sales for August 2019, a 2.1 percent increase compared to the same period last year. Kia’s best-selling model was the Sportage SUV, with 37,775 units sold worldwide in August. Sales outside of Korea totaled 185,509 units, a 3 percent year-on-year increase in part due to the release… Continue reading Kia Motors posts global sales of 228,871 units in August

Opel Corsa-e Electric Car: Fast and Easy Charging

Charging at home: from household socket to wallbox Charging on journeys: high-speed charging is standard Charging everywhere: with the “universal charging cable” at every charging station Via remote control: efficient travel with e-Services and the myOpel app Rüsselsheim. Europe’s energy infrastructure is extremely diverse, with a wide variety of power supply grids offering different charging… Continue reading Opel Corsa-e Electric Car: Fast and Easy Charging

Volkswagen Group intends to further expand after sales business

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MS-RT Ford Transit Connect offers aggressive looks for £24k

MS-RT has announced a new styling pack for the Ford Transit Connect van, which adds a more aggressive body kit and a reworked interior. The launch edition model goes on sale in September this year, priced at £23,995 for the manual and £24,995 for the automatic, with production being limited to 40 units. Standard production… Continue reading MS-RT Ford Transit Connect offers aggressive looks for £24k

Avis Budget Group and Ford Team Up to Connect Cars, Reinventing the Rental Experience in Europe

Customers renting Ford Motor Company vehicles from Avis Budget Group’s European fleet will soon find it easier to pick up and return their vehicles More than 4,000 Ford vehicles in the Avis Budget Group fleet are projected to be digitally connected in 2019, with a further 10,000 vehicles being added in 2020 as both companies… Continue reading Avis Budget Group and Ford Team Up to Connect Cars, Reinventing the Rental Experience in Europe

One small step for a woman, one giant leap for an electric car

1. All information offered on Porsche Newsroom, including but not limited to, texts, images, audio and video documents, are subject to copyright or other legislation for the protection of intellectual property. They are intended exclusively for use by journalists as a source for their own media reporting and are not intended for commercial use, in… Continue reading One small step for a woman, one giant leap for an electric car

Tesla Model 3 Buyers In China Can Rejoice Thanks To Sales Tax Exemption

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Published on August 31st, 2019 |

by Steve Hanley

Tesla Model 3 Buyers In China Can Rejoice Thanks To Sales Tax Exemption

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August 31st, 2019 by Steve Hanley

No one knows what is going to happen with the “easy to win” tariff war initiated by America’s putative president over a year ago, least of all him. What we do know, however, is that China has agreed to grant all Tesla vehicles an exemption from the 10% purchase tax that all new car buyers normally pay.

According to Reuters, the Ministry of Industry and Information Technology announced the exemption on August 30. The change marks an important concession amidst trade tensions with the United States. On average, the exemption will lower the cost of buying a new Tesla by 99,000 yuan, or about $13,957, according to a post on Tesla’s social media WeChat account.

All 16 variants of the Tesla Model S, Model X, and Model 3 offered for sale to Chinese customers are listed in a document detailing the exemption on the MIIT website. No reason was given for the decision to exclude the cars from the tax, but it does come at a time when Tesla is expanding in China by building a new factory in the Free Trade Zone outside Shanghai.

Leading up to the start of production at that factory, Elon Musk has visited China several times. He has publicly praised China in the midst of tensions with the United States and thanked the Shanghai and national governments for their support.

Musk has met with senior leaders, including China’s Vice President Wang Qishan and the transportation minister. He has called national leaders “very thoughtful” and alluded to China’s “amazing” progress in sustainable energy, transport, and space exploration. “This year they did more orbital launches than the USA for the first time,” Musk tweeted last December.

Craig Irwin, an analyst for Roth Capital, tells Reuters, “It is pretty clear Tesla is committed to China, with the investment in the Shanghai Gigafactory. Those relationships probably helped Tesla lobby for a successful exemption from the tax. Now we need to closely watch the build out of the Shanghai Gigafactory and Model 3 volume ramp in China.”

While Tesla does not disclose sales by country, consulting firm LMC Automotive estimates the company sold 23,678 cars in China in the first seven months of this year, which is nearly double the number it sold in 2018.

Also on Friday, Tesla announced it is raising the price of the cars it sells in China by 2% to offset the weakening of the yuan in recent weeks. The long range dual motor Model 3 is now 439,900 yuan ($61,467), up from 429,900 yuan ($60,070) previously. But the net effect is that, after the purchase tax exemption, Tesla will cost a Chinese customer considerably less to buy this week than it did last week. Tesla stock was up 4% following the exemption announcement.

Tesla is clearly betting heavily on China, which only makes sense since its new car market is the largest in the world and its electric car market accounts for approximately half of global electric car sales. It’s true that sales are not quite as robust this year as they have been in previous years, but there will still be more than 22 million new cars sold in China this year, even in a down market, with perhaps 8% of those being plug-in car sales.

With its close ties to the national and local governments, Tesla should be well positioned to sell as many cars in China as it can manufacture. We’ll keep you informed via our regular China EV sales reports.

About the Author

Steve Hanley Steve writes about the interface between technology and sustainability from his home in Rhode Island and anywhere else the Singularity may lead him. His motto is, “Life is not measured by how many breaths we take but by the number of moments that take our breath away!” You can follow him on Google + and on Twitter.

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Porsche expands subscription offer in US and Canada

1. All information offered on Porsche Newsroom, including but not limited to, texts, images, audio and video documents, are subject to copyright or other legislation for the protection of intellectual property. They are intended exclusively for use by journalists as a source for their own media reporting and are not intended for commercial use, in… Continue reading Porsche expands subscription offer in US and Canada

PEUGEOT still market leader in VP in August

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