Overview
- Tesla delivered about 1.64 million vehicles in 2025, down roughly 9% and marking a second straight annual decline.
- China’s BYD reported around 2.26 million battery‑electric sales for 2025, up nearly 28% with record growth outside China of about 1 million vehicles.
- Tesla’s fourth‑quarter deliveries fell to 418,227, down about 16% year over year and below analyst expectations.
- Analysts tie Tesla’s weaker demand to the end of the $7,500 U.S. EV tax credit on Sept. 30, intensifying competition from Chinese and European makers, and brand backlash over Elon Musk’s politics.
- Tesla introduced lower‑priced Model 3 and Model Y variants in October and, despite softer car sales, drew investor focus to robotaxis and AI, with limited service operating in Austin and the San Francisco Bay Area and shares up about 11% for 2025.