Tesla delivered 418,227 electric vehicles in the fourth quarter of 2025 while producing 434,358 units, missing Wall Street estimates as EV sales slowed following the expiration of the $7,500 federal tax credit on September 30.
The Elon Musk-led company delivered 1,636,129 vehicles in 2025, down 8.6% from 1,789,226 units in 2024 — marking Tesla‘s second annual decline since 2020 and falling slightly below analyst expectations of 1,640,752 vehicles.
BYD sold 2.26 million fully electric vehicles for the full year, an increase of 28% from 2024.
Tesla‘s fourth-quarter deliveries of 418,227 units fell 16% year-over-year from 495,570 in Q4 2024 and declined from 497,099 in the third quarter.
Last week, Tesla published Wall Street delivery consensus estimates showing that 20 sell-side analysts projected the company to deliver 422,850 vehicles in Q4 — roughly 4,600 units above the actual figure.
Quarterly Breakdown
Tesla‘s 2025 deliveries improved through the first three quarters before declining in Q4:
The company delivered 336,681 vehicles in Q1 (-13% YoY), 384,122 in Q2 (-13% YoY), 497,099 in Q3 (+7% YoY), and 418,227 in Q4 (-16% YoY).
Production followed a similar trajectory: 362,615 units in Q1 (-16% YoY), 410,244 in Q2 (-0.1% YoY), 447,450 in Q3 (-4.8% YoY), and 434,358 in Q4 (-5.5% YoY).
Full-year 2025 production totaled 1,654,667 vehicles, down 4.6% from 1,773,443 units in 2024.
Model Breakdown
Model 3 and Model Y accounted for the vast majority of Tesla‘s volume, with 406,585 deliveries and 422,652 units produced in Q4.
Other models — including the Model S, Model X, and Cybertruck — contributed 11,642 deliveries and 11,706 units produced in the quarter.
For the full year, Model 3/Y deliveries totaled 1,585,279 units while other models accounted for 50,850 deliveries.
Tesla deployed 14.2 GWh of energy storage products in Q4 — a record for deployments — exceeding analyst expectations of 13.4 GWh.
Full-year 2025 energy storage deployments reached 46.7 GWh.
Cybercab Production
The company is focused on the production kickoff of its Cybercab robotaxi in April. Tesla’s autonomous ride-hailing service is planned to expand to new areas while the number of vehicles in its fleet — currently using Model Y vehicles — continues to increase.
Tesla shares reached a new all-time high of $498.83 in December and gained 18.6% in 2025.
As of press time, immediately after the figures were released, the stock was trading 1.5% higher at $456.
