mo4ch:>Tesla gets tax break in China, but it hardly makes it more attractive to customers – Boom Bust | Mo4ch News

Exemption from a 10-percent purchase tax gives Tesla hope in the important Chinese market, but RT’s Boom Bust investigates whether it’s enough to offset Elon Musk’s firm’s other troubles.On Friday, all Tesla vehicles sold in China were granted a tax exemption that could reduce the cost of its electric cars by up to 99,000 yuan (nearly $14,000). However, Tesla, which earlier announced it would raise the price of its cars to compensate for tariffs, has not lowered prices.“That’s gonna be more profit, which is what they need,” Lauren Fix, an automotive analyst known as ‘The Car Coach’, told Boom Bust. She added that the company has been trying to quickly ship as many vehicles as possible to China, and now we can only hope that Tesla can sell some of them and they “don’t just sit there.”However, there are other cars in the same luxury market, such as Jaguar, Audi, and BMW. And the narrow base of wealthy customers is not going to expand, while the competitors take Musk’s market share.Also …