Overview
- BYD reported 2,256,714 EV sales for 2025, a 28% year‑on‑year increase that secured the annual global lead.
- Tesla said 2025 deliveries fell about 9% to 1,636,129, marking a second straight annual decline and its first full‑year loss of the top spot to BYD.
- Tesla’s October–December deliveries dropped 16% year on year to 418,227, reflecting softer demand in key markets.
- Reports cite the end of U.S. EV purchase incentives in September 2025 and boycott pressures tied to Elon Musk’s political activity as factors in Tesla’s slump.
- BYD’s gains were supported by replacement-purchase subsidies in China, price cuts, expanded exports, and new production footprints in Europe, Southeast Asia, and Latin America.