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Category: eV
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Tesla Q1 revenue from China up 6.86% from Q4 to $4.89 billion
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.
Tesla Model Y best-selling SUV in China in Mar with 54,937 units sold
The post Tesla Q1 revenue from China up 6.86% from Q4 to $4.89 billion appeared first on CnEVPost.
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