Electric vehicles

Future of transport

Tesla is letting drivers in Hong Kong trade in their used cars for a new Model S sedan, but no one else in Asia can

PUBLISHED : Wednesday, 09 September, 2015, 6:58pm
UPDATED : Tuesday, 24 November, 2015, 12:01pm

Hong Kong drivers can now trade in their cars to enjoy a discount on one of Tesla's Model S sedans, the electric car maker said on Wednesday as it rolled out the measure for the first time in the Asia-Pacific region.

Customers will be able to part-exchange their previous Model S or another passenger car by going through one of Tesla’s regional trade-in partners, it said. 

“The new service is aimed at further enhancing the end-to-end experience of Model S ownership, encouraging new customers to transition to electric vehicle driving with ease,” Tesla said.

In April, Tesla announced it would give Hong Kong owners of its eerily quiet Model S the option to sell their car back to the automaker between 36 and 37 months after purchasing it for 75 per cent of the base price. 

They would get slightly less back in the case of options, or 65 per cent.

A Tesla Model S 70D sells for HK$619,000 (US$79,865) in the city, or HK$8,569 a month through the finance package offered by Tesla.

In August, the company launched its (Model S) P85D in Hong Kong, which has an ‘Insane’ mode that takes the car from 0 to 100km/h in just 3.3 seconds. 

In a bid to boost the adoption of electric vehicles, the Hong Kong government has waived the first registration tax for electric vehicles until the end of March 2017.

At the end of 2013, there were less than 600 electric vehicles in Hong Kong, according to Tesla, which delivered the first Model S to buyers in July 2014. 

By May 2015, the number of electric vehicles in Hong Kong had nearly tripled tot over 2,250, according to government statistics