Overview
- Tesla reported 418,227 deliveries in Q4 2025, down 15.6% year over year, bringing full‑year deliveries to about 1,636,129 vehicles and marking an 8.5% annual decline.
- BYD disclosed sales of 2,256,714 battery‑electric cars in 2025 and roughly 4.6 million new‑energy vehicles overall, confirming it as the year’s largest seller of pure EVs.
- Analysts tie Tesla’s drop to the end of the $7,500 U.S. purchase credit in late September and to reputational headwinds around Elon Musk, alongside intensifying global competition.
- Tesla built more cars than it delivered in Q4 2025 — 434,358 produced versus 418,227 delivered — indicating an inventory build.
- BYD accelerated international expansion with about 1.05 million NEV exports and significant battery deployments, while Tesla emphasizes robotaxis and robotics as it faces rivals such as Waymo.