Overview
- Tesla delivered 418,227 vehicles in Q4 2025, down 15.6% year over year, bringing full-year deliveries to about 1.64 million and marking a second consecutive annual decline.
- BYD reported 2,256,714 battery-electric vehicles sold in 2025 and 4.6 million NEVs overall, with exports topping about 1.05 million as it expands production outside China.
- The end of the $7,500 U.S. federal EV tax credit at the end of September pulled sales into Q3 and contributed to a pronounced Q4 slowdown for Tesla, according to multiple reports.
- Tesla unusually published a compilation of analyst estimates ahead of its report and then fell short of many forecasts that were near 440,000 for Q4 deliveries.
- Norway underscored regional contrasts with BEVs at 95.9% of 2025 new-car registrations; Tesla led the market with a 19.1% share as Chinese brands, including BYD, gained ground.