"Tesla lost its crown as the world's bestselling electric vehicle maker on Friday as a customer revolt over Elon Musk's right-wing politics, expiring U.S. tax breaks for buyers, and stiff overseas competition pushed sales down for a second year in a row. Tesla said that it delivered 1.64 million vehicles in 2025, down 9% from a year earlier. Chinese rival BYD, which sold 2.26 million vehicles last year, is now the biggest EV maker. It's a stunning reversal for Musk, who once dismissed BYD as a threat as Tesla's rise seemed unstoppable, crushing traditional automakers with far more resources and helping make him the world's richest man."
"The latest quarter was the first with sales of stripped-down versions of the Model Y and Model 3 that Musk unveiled in early October as part of an effort to revive sales. The new Model Y costs just under $40,000 while customers can buy the cheaper Model 3 for under $37,000. Those versions are expected to help Tesla compete with Chinese models in Europe and Asia."
Tesla delivered 1.64 million vehicles in 2025, a 9% decline from the previous year, while BYD sold 2.26 million vehicles and became the largest EV maker. Sales fell for a second consecutive year due to customer backlash over Elon Musk's right-wing politics, the expiration of U.S. tax incentives, and intensified overseas competition. Fourth-quarter deliveries totaled 418,227, below expectations and affected by the phaseout of a $7,500 tax credit in September. Tesla introduced lower-priced Model Y and Model 3 variants to regain market share. Investors remain optimistic about robotaxi and humanoid robot ambitions, and the stock finished 2025 up about 11%.
Read at Fast Company
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