Tesla’s Revenue from Markets Outside US & China More than Doubles in Q2

Tesla’s revenue from international markets outside the US and China more than doubled YoY in the second quarter. In the US, revenue grew by 18%, and in China by 52%. The growth of the company’s performance in difficult global macroeconomic conditions underlines its superiority over competitors.

Tesla’s revenue in markets outside the US and China is growing

The Texas-based manufacturer continues to actively expand operations around the world. This is clearly seen in Tesla’s 10-Q form filed with the Securities and Exchange Commission (SEC). The company is selling more vehicles than ever in markets outside of the US and China, according to the report.

The form showed that in the second quarter, the company’s revenue from international markets jumped from $3.53 billion in the second quarter of 2022 to $7.86 billion in the second quarter of this year. This reflects an increase of 123% over the same period last year.

Record quarter

The macroeconomic situation in the world continued to be difficult in Q2. Car manufacturers found it increasingly difficult to keep the love of consumers. Nevertheless, Tesla was able not only to keep the interest but also increase it. Last quarter, the manufacturer was able to deliver 466,140 vehicles, setting a new record. This achievement was due to aggressive price cuts that began in Q1 of the year and continued during Q2.

“Q2-2023 was a record quarter on many levels with our best-ever production and deliveries and revenue approaching $25 billion in a single quarter. We are excited that we were able to achieve such results given the macroeconomic environment we are currently in.”

US and China remain Tesla’s main markets

While international markets have shown unprecedented growth, the US and China remain the main ones. In Q2 2023, Tesla generated $11.332 billion in revenue in the US. This is an 18% increase compared to the $9.614 billion received in the same period last year. In China, the company generated revenue of $5.731 billion, up 52% from the $3.787 billion generated in Q2 2022.