Retailing, Franchising, and Consumerism Business Intelligence in China

Tesla China Sales Up 300%

U.S.-based electric car maker Tesla published its financial report for the first quarter of 2016, stating that its operating revenue increased by over 45% year-on-year to USD1.6 billion; meanwhile, its sales in China increased by 300% year-on-year, making it one of the most important markets for Tesla.

During the first quarter of 2016, Tesla produced 15,510 new cars, representing a growth of 10% compared with the previous quarter. Of that total, the output for the Model S was 12,851 and the output of Model X was 2,659.

At the end of the first quarter, Tesla launched its pure electric smart car product Model 3 and received 325,000 orders during a one-week open booking. A representative from Tesla said that with the launch of Model 3, Tesla introduces its products to a wider customer group.

Tesla has been in the Chinese market for over two years. With its good performance in security, intelligence, and controllability sectors, Model S has been well-received by more Chinese consumers. In the first quarter of 2016, the sales of Model S saw a year-on-year increase of 300%, making China one of the most important growth markets for Tesla. Therefore, Tesla chose the Chinese market for the Asian debut of its Model X. In addition, Model 3 accepts booking synchronously in China, North America, and Europe.

At present, Tesla has opened 17 retail experience centers and service centers in mainland China, further improving its coverage in major Chinese cities. The company has built over 1,200 destination charge piles and over 390 super charge piles in China to meet the demands of long trips.

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