In the first quarter, China contributed 20.97 percent of Tesla's revenue, up from 18.82 percent in the fourth quarter but down from 24.79 percent in the same quarter last year. | TSLA.US
Tesla's revenue from China continued to grow in the first quarter, although its global revenue declined in the quarter compared to the fourth quarter.
In the first quarter, Tesla's revenue from China was $4.891 billion, up 5.18 percent from a year ago and up 6.86 percent from the fourth quarter of last year, according to a 10-Q filing it made with the US Securities and Exchange Commission today.
The US electric vehicle (EV) maker reported total revenue of $23.3 billion in the global market in the first quarter, up 24.38 percent year-on-year, but down 4.07 percent from the fourth quarter of last year.
This means that in the first quarter, the Chinese market contributed 20.97 percent of Tesla's revenue, up from 18.82 percent in the fourth quarter and down from 24.79 percent in the same period last year.
The US market contributed $11.2 billion, or 48 percent, to Tesla's total revenue in the first quarter.
International markets other than China contributed $7.2 billion, or 31 percent, of Tesla's total revenue in the first quarter.
Tesla announced on April 2 that it delivered 422,875 units worldwide in the first quarter, up 36.39 percent year-on-year and up 4.34 percent from the fourth quarter.
The deliveries beat Wall Street analysts' expectations of 421,200 units, with deliveries of Tesla's cheaper Model 3 with the Model Y exceeding expectations.
Tesla delivered 412,180 Model 3 and Model Y units worldwide in the first quarter, above market expectations of 408,500 units. A total of 10,695 Model S and Model X units were delivered in the first quarter, below expectations of 16,700 units.
In the first quarter, Tesla sold 229,322 China-made vehicles globally, up 25.88 percent from 182,174 in the same period last year, according to data released earlier this month by the China Passenger Car Association (CPCA).
This means that 54 percent of Tesla's global deliveries in the first quarter were made at the Shanghai plant.
In China, Tesla delivered 137,429 vehicles in the first quarter, up 26.90 percent year-on-year, according to data from the CPCA monitored by CnEVPost.
Tesla's Shanghai plant exported 91,893 vehicles in the first quarter, up 24.39 percent year-on-year.
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Permalink | Email this | CommentsThe years 2023-2025 for China's smart EV market will be like the last three years of World War II in history from 1943-1945, said Li Xiang.
Li Xiang, founder, chairman and CEO of Li Auto (NASDAQ: LI), predicted a month ago that China's new energy vehicle (NEV) penetration rate would reach 70 percent by the fourth quarter of 2025.
Now, perhaps fueled by optimism from the Shanghai auto show, he's making an even bolder prediction.
By December 2025, NEVs will account for more than 80 percent of all new vehicle sales in China, Li said in his WeChat status today, adding that the five permanent NEV brands will be born by then.
The years 2023-2025 for China's smart EV market will be like the last three years of World War II in history from 1943-1945, Li said.
Notably, this comes just a month after Li last made a bold prediction.
On March 25, Li said on Weibo that NEVs will contribute 70 percent of new car sales in China by the fourth quarter of 2025.
It's crossing the chasm theory that growth starts to accelerate when a new thing accounts for more than 30 percent, he said.
For the full year 2022, retail sales of new energy passenger vehicles in China were 5.67 million units, up 90 percent year-on-year, according to the China Passenger Car Association (CPCA).
Retail sales of all passenger vehicles in China in 2022 were 20.54 million units, up 1.9 percent year-on-year. This represents a 27.6 percent penetration rate of new energy passenger vehicles in China in 2022.
In March, retail sales of new energy passenger vehicles in China were 543,000 units, contributing 34.2 percent of all passenger vehicle sales of 1,587,000 units.
In the past few years, annual passenger car sales in China have remained at about 20 million units per year, or about 1.67 million units per month.
If Li's latest forecast turns out to be accurate, it would mean that by December 2025, China's monthly NEV sales will exceed 1.3 million units.
Li Auto is one of the most successful EV startups in China, currently offering three models -- Li L7, Li L8 and Li L9 -- all extended-range electric vehicles (EREVs).
The company delivered 20,823 vehicles in March, the second time since last December that it has exceeded 20,000 units.
Li Auto delivered 52,584 vehicles in the first quarter, up 65.8 percent year-on-year and up 13.53 percent from the fourth quarter of last year.
On April 18, Li Auto officially unveiled its all-electric solution based on the 800 V high-voltage platform, capable of giving a battery electric vehicle (BEV) a 400 km range on a 10-minute charge.
With the release of this solution, Li Auto will officially enter a phase of parallel development of its EREV and BEV product lines. By 2025, Li Auto's product array will include one super flagship model, five EREVs, and five BEVs, it said.
By that time, Li Auto's models for the market priced above RMB 200,000 will fully meet the needs of family users, the company said.
Li Auto could reach 40,000 monthly sales in 2023, exec hints
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The California legislature has introduced a bill that would mandate bidirectional charging capability for all new EVs sold in the state beginning in 2027. First spotted by Charged EVs, SB 233 has passed the California Senate Energy Committee and now heads to the Senate Transportation Committee April 25 for further consideration. If enacted, the...
The biggest markets for Chinese auto exports include the UK, Belgium, Mexico, UAE, and the Philipines.
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