Wife's new car = ICE thanks to FRT

[Captain_Kong]

Bolt isn't bad really... but people is voting with their wallet:

GM extends plant shutdowns, carries big backlog of Chevy Bolts, other cars

Jul 28 is going to rock!

 

[icemankaka]

I've seen a few 911s and some M3/M5s being replaced by MS/X here. that said, many households have multiple cars to start with. but at least they have used an EV rather than an ICE. (Who can resist walking into a cool car on a hot day AND not needed go breath fumes on a tuesday/wednesday? I dont miss gas pump runs for sure - between mom and i we love driving till the last drop of gas and whoever gets a car with range less than required distance will have to go fill up. now we only have to plug in at home.)

 

[markwj]

Unfortunately, I'm hearing this story more and more recently. Lots of people saying they wanted to buy an EV, but they weren't ready. They now are, but can't, so ICE it is.

 

[FequalsMA]

Unfortunately, I'm hearing this story more and more recently. Lots of people saying they wanted to buy an EV, but they weren't ready. They now are, but can't, so ICE it is.

If the model 3 is too long of a wait would they consider the new Nissan Leaf?

 

[SageBrush]

So what to do. Off to shop for an ICE I went and we are picking up our Land Rover Discovery Sport next week. HK had a choice, do we have a family drive an electric or ICE car? Legco said let's have them drive ICE.

I take it that the FRT forced you to buy a gas guzzler ?

 

[Captain_Kong]

I take it that the FRT forced you to buy a gas guzzler ?

It's more liked WITH the FRT exemption it says - buy a cool Tesla for half the price of a super / hyper car; and WITHOUT the FRT exemption it says - the govt DOESN'T want you buying a cool Tesla.

Tesla's local market share says it all (with the FRT exemption applied to all EVs in HK). People always have a choice and voted with their wallet.

 

[FequalsMA]

; and WITHOUT the FRT exemption it says - the govt DOESN'T want you buying a cool Tesla.

more like,

"Representatives for the ICE industry has told us to remind you to continue to buy ICE"
"Oh smog, you say? We'll deal with that when it gets here"

 

[gubes]

The FRT decision has nothing to do with the idea of reducing congestion. It has everything to do with lost revenue. Effectively for every 700k Tesla, they were forgoing ~700k of tax revenue. If the average selling price of an EV eventually is around 350k (pre-tax), that would be ~300k in lost revenue per vehicle. I am not happy about the decision, but lets face it - it was too good to be true that the effective subsidy was BY far the highest in the world - we are talking about US$80-90k for a Model S.

HK has annual auto sales of around 50k new passenger vehicles per year. If one day 30% of those sales are electric and the government did not collect on average say 200k in FRT on those vehicles, that costs the government US$385m a year. If you ask me, its a price worth paying - but in the end its politics.

 

[markwj]

it was too good to be true that the effective subsidy was BY far the highest in the world - we are talking about US$80-90k for a Model S.

Not sure if it is by far the largest. By comparison, Norway has 0% purchase tax, and 0% VAT for EVs. Also no annual road tax, free public parking, no toll fees, and access to bus lanes. Of course, those incentives are now being cut back; but Norway seems on track for their 2025 goal to be 100% EV for new cars.