Tesla’s global vehicle sales fell by 9% in 2025, allowing Chinese automaker BYD to overtake it as the world’s top electric vehicle seller.
Tesla said it delivered 1.63 million vehicles in 2025, down from 1.79 million in 2024. This marks the second straight year of declining sales for the company. About 50,850 vehicles were listed under “other models,” which include the Cybertruck, Model S, and Model X.
Sales dropped sharply in the fourth quarter. Tesla delivered 418,227 vehicles, a 15.6% decline compared to the same period last year. The results were below market expectations, causing Tesla shares to fall more than 2% after markets reopened following the New Year holiday.
One major factor behind the slowdown was the removal of the $7,500 U.S. federal EV tax credit. Tesla saw strong demand in the third quarter as buyers rushed to purchase vehicles before the incentive ended. After the credit was removed, sales fell despite price cuts and other promotions.
Meanwhile, BYD delivered 2.26 million EVs in 2025, taking the global lead. Tesla has also lost market share in Europe and China due to growing competition from Chinese brands.
Despite plans by CEO Elon Musk to focus more on AI and robotics, Tesla still relies heavily on EV sales, which remain its main source of revenue.
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