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Tesla Sales Fall to Zero in Hong Kong After Tax Break Is Slashed
Posted on 7/10/17 at 9:35 am
Posted on 7/10/17 at 9:35 am
It's a WSJ article so cant see the whole thing, but the opening lines tell the story.
LINK
LINK
quote:
New registrations of company’s vehicles dropped to zero from 2,939
Tesla Inc.’s sales in Hong Kong came to a standstill after authorities slashed a tax break for electric vehicles on April 1, demonstrating how sensitive the company’s performance can be to government incentive programs.
Not a single newly purchased Tesla model was registered in Hong Kong in April, according to official data from the city’s..
9
Posted on 7/10/17 at 9:37 am to Jack Ruby
The company wouldn't exist without government hand outs and tax breaks.
Musk is a con man.
Musk is a con man.
Posted on 7/10/17 at 9:37 am to Jack Ruby
Trump should do the same.
There is no justification for a taxpayer funded subsidy on a 6 figure car.
There is no justification for a taxpayer funded subsidy on a 6 figure car.
Posted on 7/10/17 at 9:38 am to Turbeauxdog
everyone on the left wants to make Elon Musk a savior but in reality he nothing more than a subsidy from the government. If the free market does not want his product or can't afford it because it is over priced for the market, let it fail.
Posted on 7/10/17 at 9:40 am to Jack Ruby
It would be bad if a guy like this was on an advisory board to the President.
Posted on 7/10/17 at 9:40 am to Turbeauxdog
quote:
There is no justification for a taxpayer funded subsidy on a 6 figure car.
Posted on 7/10/17 at 9:40 am to Jack Ruby
poor musky might only make 30K per sale instead of 50 when hes forced to drop the price to compensate
:tinyviolin:
:tinyviolin:
Posted on 7/10/17 at 9:46 am to Gusoline
quote:
poor musky might only make 30K per sale instead of 50 when hes forced to drop the price to compensate
:tinyviolin:
Um, last I checked they lose on every sale when you exclude the subsidy
Posted on 7/10/17 at 10:06 am to Jack Ruby
Wait a minute, so the wealthy get a SMALL PERCENTAGE of their tax money actually going to something they might enjoy ---- instead of being wasted by the hyper-inefficient government or some lazy frick not working?
Boo fricking hoo.
Boo fricking hoo.
Posted on 7/10/17 at 10:10 am to Turbeauxdog
quote:
Um, last I checked they lose on every sale when you exclude the subsidy
Then they will not sell them. The unique thing about America is anyone can become successful. If you come up with a needed product and can produce it at a price people can afford you will become successful (and rich).
That is why the government needs to stay the hell out of business. Like all the money taxpayers flushed down the toilet by giving money to Solyndra.
Its easy... develop a product at a great price and make money, develop a crappy product or a product at too high a price and you lose your arse.
Posted on 7/10/17 at 10:11 am to bamarep
quote:
Musk is a con man.
been saying this since the paypal days
Posted on 7/10/17 at 10:18 am to bamarep
quote:
Musk is a con man.
To be fair:
1) If I had a product or service for which I could turn a profit and the Gov has a program to help....I am NOT eschewing said assistance.
2) Isn't the "subsidy" given to the consumer? I pay Tesla 100k for my car and the Fed and State (some) give ME the credit / subsidy.
Now, the car may have never sold (certainly not as many) without it. But, it is not Musk's fault that the program exists and I don't think anyone is a "con man" for using what is available.
BTW, I am AGAINST the subsidy. I just don't blame the entrepreneurs for profiting from them.
Posted on 7/10/17 at 10:21 am to bamarep
quote:
The company wouldn't exist without government hand outs and tax breaks.
Musk is a con man.
GM and Chrysler would not exist either
Posted on 7/10/17 at 10:22 am to Jack Ruby
Likely this has to do with Volvo's announcement to make only electric vehicles by 2019. Volvo is owned by Chinese interests, likely subsidized by HSBC and other HK financial interests.
Posted on 7/10/17 at 10:27 am to BlackHelicopterPilot
it is a non refundable tax credit.
AKA - it only helps those who actually pay taxes. Like, pay all of the taxes that run this entire country.
Which is worse, a guy who pays $110,0000 annually in taxes getting a $17,000 tax break? While still spending $110,000 on an AMERICAN MADE product?
OR -- someone who pays a TOTAL of $1200 in taxes annually getting a $5000 REFUND? All while putting ZERO money in to the economy?
Honestly, which is worse?
AKA - it only helps those who actually pay taxes. Like, pay all of the taxes that run this entire country.
Which is worse, a guy who pays $110,0000 annually in taxes getting a $17,000 tax break? While still spending $110,000 on an AMERICAN MADE product?
OR -- someone who pays a TOTAL of $1200 in taxes annually getting a $5000 REFUND? All while putting ZERO money in to the economy?
Honestly, which is worse?
Posted on 7/10/17 at 10:29 am to Jack Ruby
Musk is amazingly talented at getting government cooperation. How the frick is he getting the funding and approval to test underground roads in California? It's unreal.
That's his real gift.
That's his real gift.
Posted on 7/10/17 at 10:30 am to bamarep
quote:eh, the oil industry would have never gained traction without government hand outs and tax breaks (some they still get today)
The company wouldn't exist without government hand outs and tax breaks.
Posted on 7/10/17 at 10:30 am to SirWinston
quote:
That's his real gift.
Hence the con man comment.
Posted on 7/10/17 at 10:32 am to back9Tiger
quote:
everyone on the left wants to make Elon Musk a savior but in reality he nothing more than a subsidy from the government. If the free market does not want his product or can't afford it because it is over priced for the market, let it fail.
Not directing this at you but conservatives hold different companies to different standards.
Under a free market, GM and Chrysler would have gone under. Ford didn't get bail out funds, but it got a generous multi-billion dollar federal loan to develop electric cars that has yet to be paid back. Also, all of those companies qualify for many of he same tax credits that Tesla utilizes. And they get huge subsidies from local and state governments, too.
Let's face it - The auto industry was not operating under free market principles long before Tesla was a thing.
So why is the criticism directed exclusively at Tesa/Musk? Y'all are cherry picking.
Posted on 7/10/17 at 10:40 am to cahoots
quote:
generous multi-billion dollar federal loan to develop electric cars that has yet to be paid ba
Who sets cafe standards?
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