A telescopic sunshade includes an outer tube having upper and lower positioning holes. An inner tube is slideably received in the outer tube and includes an upper end beyond the outer tube. Ribs are pivotably mounted to a hub fixed to the inner tube. Stretchers are pivotably mounted between the ribs and the outer tube. The sunshade is in a folded state when the inner tube is in an upper position. The sunshade is in an unfolded position when the inner tube is in a lower position. The protruded length of the inner tube in the upper position is larger than that in the lower position. A sleeve is slideably mounted around the outer tube and engaged with the inner tube to move therewith. A positioning button is engaged in the upper or lower positioning hole to retain the sunshade in the folded or unfolded state.