Grey Market Tesla Model X Fetches $240,000 in China

AUG 12 2016 BY ERIC LOVEDAY 12

Tesla Model X In China

Tesla Model X In China

Tesla Model X In China

Tesla Model X In China

According to a report by Forbes, the Tesla Model X is so hot in China that demand far exceeds supply. This has led to grey market imports coming in with buyers willing to pay up to 1.58 million yuan or $240,000 for a U.S.-spec Model X P90D

Forbes states:

“The official list price of the P90D in China is 1.15 million yuan or $170,000, so the grey market adds a $70,000 markup.”

These grey market Model X SUVs are likely difficult to insure, probably carry no warranty, definitely a non-functional navigation system and could even have some electric car-related issues such as difficulty charging from outlets and charge points in China.

Still, none of that has reduced demand for these electric SUVs. In fact, one dealer in the city of Tianjin, China claims to have imported 16 Model X SUVs from the U.S. and is selling them via the Internet and social media for between 1.54 and 1.58 million yuan, or up to $240,000 USD.

Looks like Tesla needs to up production of the China-spec Model X.

Source: Forbes

Categories: Tesla

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12 Comments on "Grey Market Tesla Model X Fetches $240,000 in China"

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If Tesla had dealerships in China, they all would be marking up the vehicles.

There are Tesla stores in China

Some people go crazy while others wouldn’t pay a dime for them ..nutty world we live in !

I see a Forbes.com states Tesla started selling the MX in China on Jul 5, 2016.

I guess these “gray market” sales are for buyers who contracted with a gray market agent before official sales started. Or else someone who really, really wanted to be the first person in his megacity to own a Model X! 😉 People with more dollars (well, Yuan) than sense…

Pai Gow ~ !

You nailed-it.

More money then brains.

Finally, a good reason to buy a Model X 🙂

is this a joke? the only reason I can think of for not buying one is the cost.

Not surprised..

Too much money.

Many Chinese Rich people aren’t different from Pop or sports star in the US.

They got rich quickly and like to flaunt their wealth.

So, they are willing to pay more to be the first and show off the expensive stuff. Sometimes, the more expensive one thing is the better so they can show that they got cash and money doesn’t matter.

In Singapore, where the economic elite are all ethnic Chinese, the government auctions off license plates with lucky numbers (by Chinese numerology) for up to thousands of $. Then the cars sit in traffic all day while a superb subway system languishes beneath them.

I need a car to carry my durian.

Stupid has no borders.

Wait a minute, I can flip a model x or model s and pocket $70k?