The End of The One-for-one trade-off | EVs expect price increases starting at 4.1, with Tesla/BYD/Toyota seeing increases of up to 60%. Dealers: Domestic brands poised to dominate the market.
The budget announced that the tax credit for trading in EVs for one will not be extended after March 31. Prices of several EV models are expected to increases starting from April 1. Tesla’s newly launched Model Y L 6-seater, released today, is priced at HKD$500,000 (including tax). The Model 3 RWD, with a trade-in price of only HKD$249,000, will increase by over HKD$100,000 to HKD$357,000, an increase of over 40%. The BYD Sealion 7 Premium, originally priced at HKD$268,000, will increase by 42% to HKD$380,000; the BYD Atto 2, with a trade-in price of HKD$155,000, will now increase to HKD$228,000, an increase of 47%.
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