Overview
- Tesla reported 1.64 million deliveries in 2025, down about 9% year over year, with fourth-quarter deliveries of 418,227 missing the roughly 440,000 analysts expected.
- BYD said it sold about 2.26 million battery-electric vehicles in 2025, up roughly 28% from 2024, including around 1 million sold outside China.
- The $7,500 U.S. federal EV tax credit phased out on September 30, removing a major purchase incentive cited in the weaker late-year demand.
- Coverage and analysts also point to intensifying competition from Chinese and European automakers and consumer backlash over Elon Musk’s politics as factors in Tesla’s decline.
- Investors continue to focus on Tesla’s pivot to robotaxis, AI and robotics, with shares finishing 2025 up about 11% as the company prepares to report fourth-quarter financials on January 28.