Tesla’s Singapore sales portal goes live

[The_King]

 

 

 

Tesla’s Singapore sales portal has gone live, a day after The Straits Times listed estimated prices of its cars.

The site states that the Tesla Model 3 Performance – a highpowered version of the Model 3 – which hits 100kmh in 3.3 seconds, is retailing at an estimated price of just under $155,000 before certificate of entitlement (COE).

The less powerful Model 3 Standard Range, which reaches 100kmh in 5.6 seconds, will go for around $113,000 before COE.

The prices – substantially lower than what parallel importers have been charging – are close to what ST posted in its report on Monday.

Observers said Tesla’s pricing is likely to propel sales, given that at current COE rates, the Model 3 Standard Range is likely to be cheaper than a Toyota Camry but with more bang for the buck.

 

Both cars fall under Category B COE for cars above 1,600cc or 97kW, which closed at $46,790 at the latest tender last week.

 

 

Corporate communications manager Tony Tan, 54, calculated that a fully equipped Model 3 Performance would cost him less than $160,000 before COE. “It is essentially a super sports car at half the price,” he noted.

Even taxi companies are considering Teslas.

Out of the main four cab operators contacted, Trans-Cab and Premier said they would consider adding the American car to their fleet.

Commenting on Tesla’s posted prices, Singapore University of Social Sciences transport economist Walter Theseira said: “The Singapore car market has some of the highest dealer gross margins in the world.

 

“Tesla’s pricing appears to be extremely competitive, and a vehicle with similar OMV from an established authorised luxury dealer would probably be priced several tens of thousands more. ”

The launch of the local sales portal follows years of speculation on when the Californiabased electric carmaker would return to Singapore, after its hasty retreat 10 years ago that was preceded by chief executive Elon Musk taking jibes at Singapore on Twitter for not being supportive of electric vehicles (EV) and being unwelcoming to Tesla in particular.

Tesla’s return marks one year since the Singapore Government announced during its 2020 Budget that it would introduce sweeter incentives to encourage greener vehicles, as well as a plan to expand the EV charging network exponentially.