China’s Generous 10% Tax Exemption Drives Sales Of Tesla Inc (NASDAQ:TSLA) ‘s Car Models Model X, Model S, And Model 3

In September 2019, China has granted a 10% car purchase exemption for Tesla Inc (NASDAQ:TSLA) cars. As a result of this generous discount, the Chinese enjoy a cash discount of up to $13,960 on Tesla car purchases.

The great demand for Model S, 3, and X

Chinese are in queue to buy premium Tesla cars at a reduced price and enjoy a ride. There is a penchant demand for Tesla car models Model S, Model 3, and Model X. A lot of Tesla cars are waiting to get a registration certificate in front of the Motor Vehicles Department in Beijing. According to recent reports, massive deliveries of Tesla Vehicles are happening in Shanghai and Beijing through Tesla stores. According to information available on the website of Tesla China, the customers can get a price discount of $7,345 on Model 3’s highest priced variant.

Sales of Model 3 astonishing

According to an update from Chao Zhou, who continually updates Giga Factory developments to the Chinese community, said sales of Model 3 at Jinqiao store in Shanghai are astonishing. The sales of Model 3 at Jinqiao store have surged considerably after the announcement of a 10% discount by the Chinese government. Jinqiao store alone expects orders of 3,000 by October end. Tesla would meet this demand by end October and boost the Q4 delivery report of Tesla.

According to Chao Zhou, Tesla China has 60 employees, and each would sell up to 50 Tesla Cars in October 2019. Among these, Model 3 would account for a large share. It is also notable that a lot of Model X is waiting for delivery. In a recent visit to Shanghai, Elon Musk has used the Model X convoy.

Says no to used electric vehicle

Chinese says no to used electric cars. However, they are ready for used Tesla Electric vehicles. The used Tesla electric vehicles are available at 70% of the original price after one-year usage. It is much higher than any other electric car in China.

Tesla’s factory in China is expected to begin production in October 2019. With the start of manufacturing activity at the Giga factory in China, the customers could expect quick delivery of Tesla Model 3s.

The global delivery of Tesla cars is 97,000 in Q3 2019 and missed the expectation of 99,000 of the investors. In the previous quarter, the company has delivered 95,200 electric vehicles.

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