Demand for the Tesla Model X is shooting through the roof in China where the SUV is reported to be sold in the grey market at rates several thousands of dollars more than the list price. According to Forbes, the Chinese seem to have no qualms paying $240,000 for a Model X 90D which is $70,000 more than the officially listed price of $170,000.
What is even more amazing is that the Model X being sold at a premium are in reality meant to be sold in the US and hence, do not comply to Chinese specifications. What that means is that the Model X being sold via unofficial channels has their warranties deemed void. While the vehicles will still be serviced by the Tesla guys in China, owners will have to bear the entire costs on their own.
Similarly, the vehicle's navigation systems won't be functional in China as it relies on Google Maps for its working in the US-spec version of the Model X. With Google Maps banned in China, Tesla circumvents that by having tied up with the Chinese mapping company NavInfo whose maps are used in Tesla vehicles sold in the country.
Moreover, all of the displays are made in US English as well while speed is displayed in miles per hour. However, as is mentioned by Motor1, getting the grey channel Model X insured is not posing any issues.
Grey market imports are legal in China though there are several restrictions that apply. However, that does not seem to be deterring dealers to make bulk purchases in the US and having them shipped to China. For instance, a Tianjin-based dealer imported 16 P90D variants of the Model X with all of the red variety being sold off. He is only left with the white versions and there are no other color options available.
Tesla is yet to respond to the development even though it entails losing out on revenue. The P90Ds costs $115,000 in the US while the same in China is priced $170,000. Since it's the US-spec Model X that are being sold, Tesla is missing out on the extra revenue stream.