"Tesla's sales fell in the fourth quarter of 2025, as rising competition and the expiration of the federal EV tax credit continued to sap the company's global ambitions. The numbers were a lot worse than many Wall Street analysts were expecting. The disappointing sales report raises the question whether Tesla can reverse its downward fortune and achieve its goals of deploying self-driving cars and humanoid robots, both of which have buoyed the company's valuation for many years."
"Tesla reported delivering 418,227 vehicles in the fourth quarter, down 15.6 percent compared to the same three-month period in 2024. The number of deliveries came in below the consensus number from Wall Street, which anticipated that Tesla would delivery 422,850 vehicles. The company also said it produced 434,358 vehicles during Q4 2025, a 5.8 percent drop year-over-year. For a direct-to-consumer company like Tesla, deliveries are a proxy for sales."
Tesla delivered 418,227 vehicles in Q4 2025, a 15.6 percent decline from Q4 2024, and produced 434,358 vehicles, down 5.8 percent year-over-year. Full-year sales totaled 1,636,129 vehicles, an 8.5 percent drop from the prior year, with production at 1,654,667 units, down 6.7 percent. The majority of sales were Model 3s and Model Ys. Falling demand was linked to rising competition and the expiration of the federal EV tax credit. Q4 deliveries missed Wall Street consensus of 422,850 vehicles. Deliveries serve as a proxy for sales for Tesla's direct-to-consumer model.
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