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Used Tesla, Audi Prices Plunge in Sign of Hong Kong Expat Exodus
Owners in Hong Kong are having to offer steep discounts or abandon their vehicles as excess supply drives down resale values.
Guillaume Foucault, a senior tech manager, has been trying to sell his 2014 Audi Q5 in Hong Kong but hasn’t gotten offers he considers good enough.
Photographer: Lam Yik/BloombergThis article is for subscribers only.
If you’re wondering about the best place in the world to buy a car right now, just look at Hong Kong.
Even as second-hand vehicle prices break records in the U.S. and other countries, people in Hong Kong are struggling to offload their cars as a surge of residents move out of the city after two years of punishing Covid restrictions.