On April 25, according to Tesla's revenue information disclosed by the U.S. Securities and Exchange Commission (SEC), Tesla's revenue in China was $4.65 billion in the first quarter, compared with $3.04 billion in the same period last year, an increase of about 52.8% year-on-year.
Tesla said that the year-on-year increase in operating income was mainly affected by factors such as increased deliveries and lower bicycle costs. In the first quarter in particular, the Shanghai Gigafactory continued to provide strong capacity, with production increases and deliveries rising.
According to data from the Association, Tesla's deliveries in China reached 182,200 units in the first quarter of this year, accounting for 58.8% of Tesla's global delivery of 310,000 vehicles. China is Tesla's second largest market, accounting for 24.8% of revenue, while the United States is still Tesla's most important market, with revenue in the U.S. market reaching $8.734 billion in the first quarter, accounting for 46.56% of total revenue.
Previously, Tesla's first quarter 2022 financial report showed that it has achieved profitability for 11 consecutive quarters. Tesla's total revenue in the first quarter reached $18.8 billion, an increase of 81% year-on-year. GAAP reported an operating profit of $3.6 billion, resulting in an operating margin of 19.2%. GAAP net income was $3.3 billion and non-GAAP net profit( excluding share-based expenses) was $3.7 billion.
Although Tesla still faces challenges in global supply chain, logistics and transportation, labor and other production aspects, the commissioning of two new gigafactories in Berlin and Texas has also brought new vitality to Tesla's production line, further improving production capacity and accelerating global delivery speed.
The recurrence of the epidemic in Shanghai has also made Tesla's production and sales in the second quarter encounter greater challenges. Today, Tesla's Shanghai Gigafactory has withstood multiple pressures such as supply chain challenges and has resumed work and production after a short suspension of work.
Tesla said that at present, the production capacity of the Shanghai Super Factory is steadily climbing to ensure the supply of domestic and foreign products. Tesla's more than 100 parts manufacturers are gradually coordinating to resume work and production and smooth logistics. Many Tesla parts suppliers in Shanghai began to resume work, becoming the region with the largest proportion of Tesla supplier partners resuming work and production. Tesla suppliers located in Zhejiang, Jiangsu and other provinces are also actively linking under the guidance of the government, ensuring production, and opening up logistics to support Tesla vehicle manufacturing.
[Reporter] Gong Qianshu
【Author】 Gong Qianshu
【Source】 Southern Press Media Group South + client