Home
News
- Tesla sales in Japan has surged by more than 1237% since March 2020
- Customers in Japan has registered 588 Tesla model 3 units alone in March
- The reason behind the soaring rate of sales is the all-time low price of the units
- Surge in the sales of Tesla cars could bring more adoption of Bitcoin
Tesla sales from March 2020 to March 2021 has been observed soaring by more than 1237% or 13x in Japan. The electronic car’s firm cut prices for its Model 3, which is known as the reason behind a spike in orders. Moreover, the new policies of the firm have the potential to make Japan the new bigger market for its products.
Tesla took third place among foreign brands sales in Japan
Alone in March, Tesla registered 588 cars of its Tesla Model 3 cars in Japan. The registration reflected a more prominent increment in sales from the same month last year. However, the report was revealed by the Japan Automobile Importers Association. On the other side, the registration also allowed the electric car model to take third-position among foreign brands in the country.
What is the reason behind the soaring interest in Model 3?
It is known that one of the primary reasons behind the soaring interest in electric cars was the sharp price cut. The change in price policy preceded the start of the model’s export from Giga Shanghai.
Under the policy, the price of Model 3 Standard Range Plus has been reduced by $7800, bringing the price to $40,500 (4.29 million yen). Whereas the price of Model 3 long-range dropped by $14,700 (4.99 million yen). And the price of Model 3 Performance remained unchanged at $67,800 (7.17 million yen).
Incentives of Elon Musk has been doubled
It is significantly observed that the price drop of electric vehicles by more than 25% is a consequence of the fact that the Shanghai branch is producing right-hand vehicles for various markets. Also, the same factor has helped double the incentives for the purchase of Tesla’s car. Moreover, the Japanese Ministry of the Environment and the Ministry of Economy, Trade, and Industry have improved the exemptions from $3,850 to $7,700. However, the Japanese government’s corresponding total budget is $177.2 million.
Bitcoin adoption could surge with the soaring adoption of Tesla’s car
Tesla has already announced the acceptance of Bitcoin as a mode of payment in exchange for its car. The news in the market helped the Bitcoin market to show positive signals. However, following the cars’ all-time low prices, many buyers are being attracted. And it might help individuals adopt Bitcoins and use them as a payments mode for Tesla cars.
