China contributed 22.99 percent of Tesla's revenue in the second quarter, up from 20.97 percent in the first quarter and up from 22.36 percent in the same period last year.
Tesla (NASDAQ: TSLA) saw its revenue from China rise sharply in the second quarter compared to the same period last year, but there's a catch.
In the second quarter, Tesla's revenue from China was $5.731 billion, up 51.33 percent from the same period last year and up 17.17 percent from the first quarter, according to a 10-Q filing it filed with the SEC today.
Tesla didn't specify, though that year-on-year surge was largely due to a low base for its deliveries in China in the same period last year because of the Covid disruption.
Tesla's Shanghai factory was shut down for about a month at the end of March last year due to the city's Covid lockdown, and production didn't begin to gradually resume until April 19 last year.
This resulted in Tesla delivering 89,275 vehicles in China in the second quarter of last year, including just 1,152 in April, data from the China Passenger Car Association (CPCA) monitored by CnEVPost showed.
The US EV maker's total revenue in the global market in the second quarter was $24.927 billion, up 47.2 percent year-on-year and up 6.85 percent from the first quarter, according to its financial report released earlier this month.
That means the Chinese market contributed 22.99 percent of Tesla's revenue in the second quarter, up from 20.97 percent in the first quarter and up from 22.36 percent a year earlier.
The US market contributed $11.332 billion, or 45.46 percent, to Tesla's total revenue in the second quarter.
In the first quarter, Tesla's revenue in the US market was $11.2 billion, or 48 percent of its total revenue.
Markets other than China and the US contributed $7.864 billion, or 31.54 percent, of Tesla's total revenue in the second quarter.
Tesla's data released on July 2 showed it delivered 466,140 units worldwide in the second quarter, up 83.02 percent year-on-year and up 10.23 percent from the first quarter.
In the second quarter, Tesla sold 247,217 China-made vehicles, up 21.76 percent from 112,583 in the same period last year, according to data released earlier this month by the CPCA.
That means 53 percent of Tesla's deliveries worldwide in the first quarter were made at its Shanghai plant.
In China, Tesla delivered 247,217 vehicles in the second quarter, up 21.76 percent year-on-year, according to data from the CPCA monitored by CnEVPost.
Tesla's Shanghai factory exported 90,541 vehicles in the second quarter, up 288.45 percent year-on-year.
Automakers' share in China NEV market in Jun: BYD 34.7%, Tesla 11.2%
