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August 3, 2020

Tesla sales in China double in Q2 2020

Tesla reported a 103% year on year jump in revenues from its Chinese operations to US$1.4bn in the second quarter of 2020, to account for just over 23% of the company’s global sales.

By bcusack

Tesla reported a 103% year on year jump in revenues from its Chinese operations to US$1.4bn in the second quarter of 2020, to account for just over 23% of the company's global sales.

The carmaker reported sales of US$3.09bn in the US in the second quarter, down 11.2% year on year, while other markets including Europe contributed US$1.55bn – down by over 29%.

The company sold around 31,000 vehicles to customers in China in the second quarter, according to retail data released by the China Passenger Car Association, equivalent to more than one-third of its 90,000 global deliveries – helped by the launch of commercial production at its newly built plant in Shanghai at the end of 2019.

In the first six months of 2020, Tesla reported revenues of US$2.3bn in China, accounting for just over 19% of the company's US$12.02bn global sales.

Output in the US was held back by the COVID-19 epidemic, which forced the closure of its Fremont factory in California for nearly six weeks.

Tesla sales in China in the first half of 2020 amounted to 50,000 units, according to local reports.  

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