U.S. electric automaker Tesla said Friday that its global vehicle deliveries in 2025 fell by around 8.6 percent year on year, marking the first time the company has been overtaken in annual electric vehicle sales by China's automaker BYD.
Tesla produced 1.655 million electric vehicles in 2025 and delivered 1.636 million, lower than the 1.773 million vehicles produced and 1.789 million delivered in 2024, according to company data.
The impact on sales became most pronounced after tax credits that had encouraged U.S. consumers to purchase electric vehicles were eliminated in September 2025.
In the fourth quarter of 2025, Tesla produced 434,358 vehicles and delivered 418,227, down from 459,445 produced and 495,570 delivered in the same period a year earlier. Fourth-quarter deliveries fell around 16 percent year on year.
BYD said Thursday that its global electric vehicle sales reached 2.257 million in 2025, up 27.86 percent from a year earlier, with a growing share of sales coming from markets outside China, including Asia, Europe and Latin America.
Tesla remains the largest electric vehicle manufacturer in the United States, accounting for about 45 percent of the domestic EV market. However, its declining sales suggest a broader slowdown in the U.S. electric vehicle market.
Data from automotive research firm Cox Automotive showed that U.S. electric vehicle sales across all brands plunged by over 40 percent year on year in November 2025.
Industry analysts expect overall U.S. electric vehicle sales to remain weak in 2026.
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