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Home ยป Cars

Tesla's revenue in China surged 102.9 percent year-on-year in Q2

By Phate Zhang
Jul 29, 2020 at 6:54 AM UTC
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Tesla's revenue in China surged 102.9 percent year-on-year in Q2-CnTechPost

Tesla's revenue in China rose 102.9 percent year-on-year to $1.4 billion in the second quarter of this year, keeping China as its second-largest market after the United States, according to a filing with the U.S. Securities and Exchange Commission (SEC).

That means 23.19 percent of Tesla's revenue came from the Chinese market.

Tesla's U.S. sales revenue declined as the California factory was closed for nearly 50 days during the second quarter.

Tesla's U.S. sales in the second quarter was $3.09 billion, down 11.20 percent from the same period last year. The U.S. market accounted for 51.19 percent of Tesla's Q2 revenue.

Other markets such as Norway and the Netherlands contributed $1.546 billion, down 29.08 percent from $2.18 billion in the same period last year.

Tesla reported its fourth consecutive profitable quarterly results for fiscal 2020 on July 23.

According to the report, Tesla reported second-quarter revenue of $6.036 billion, down 5 percent from $6.350 billion in the same period last year.

It reported a net profit of $129 million, compared to a net loss of $389 million in the same period last year.

Tesla's total electric vehicle production in the second quarter was 82,272, down 20 percent from the previous quarter.

Model 3 and Model Y production in the second quarter was 75,946 units, down 13 percent from the previous quarter.

Model S and Model X production declined 59 percent to 6,326 units, compared with the previous quarter.

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