Tesla delivered 1,636,129 vehicles worldwide in 2025, down from approximately 1.789 million in 2024—the company’s second consecutive annual decline in deliveries. The drop coincided with lower revenue, but the measures are not interchangeable: Tesla’s total revenue fell 3% in 2025, while automotive sales revenue fell 9%.
How many vehicles did Tesla deliver in 2025?
Tesla’s January 2, 2026 delivery release reports 1,636,129 vehicles delivered for the full year, including 418,227 in the fourth quarter. Its 2025 Form 10-K rounds the annual figure to approximately 1.64 million. For comparison, Tesla’s 2024 Form 10-K reports approximately 1.789 million deliveries.
| Calendar year | Tesla deliveries | Source and reporting |
|---|---|---|
| 2024 | Approximately 1.789 million | Tesla’s 2024 Form 10-K, filed in 2025 |
| 2025 | 1,636,129 | Tesla’s Q4/FY2025 release; the 2025 Form 10-K rounds this to approximately 1.64 million |
That like-for-like comparison establishes two consecutive annual declines. Tesla reports deliveries; these figures should not be relabeled as retail sales.
What happened to Tesla’s revenue?
Tesla’s total revenue declined from $97.69 billion in 2024 to $94.83 billion in 2025, a decrease of $2.86 billion, or 3%, according to its 2025 Form 10-K. Automotive sales revenue fell 9%—a separate measure, not the decline in total company revenue.
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Tesla said lower automotive sales revenue reflected approximately 8% fewer cash deliveries and a lower average selling price per unit. It linked the lower average price to sales mix and higher customer incentives, including attractive financing options. These are the company’s explanations for the automotive revenue change; they do not establish that any one factor caused the full-year delivery decline.
Did all of Tesla’s businesses decline?
No. In 2025, Tesla’s energy generation and storage revenue rose 27% to $12.77 billion, while services and other revenue increased 19% to $12.53 billion, the company reported in its 2025 Form 10-K. Those gains did not prevent total revenue from falling, but they show why vehicle deliveries alone do not describe the company’s full financial performance.
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Tesla cautioned in its Q4/FY2025 release that deliveries and storage deployments are only two measures of financial performance and should not be relied on as indicators of quarterly financial results. The company identifies factors such as average selling price, cost of sales and foreign-exchange movements as relevant to results.
How does Tesla compare with BYD?
The Associated Press reported on January 2, 2026, that BYD sold 2.26 million vehicles in 2025, above Tesla’s 1.64 million deliveries for the year. The comparison is global and covers the same calendar year, but the reported metrics differ: AP describes BYD’s vehicles as sold and Tesla’s as delivered. It is therefore a useful indication of relative scale, not a perfectly matched measure of retail sales.
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AP cited competition, customer backlash related to Elon Musk, and the expiration of U.S. electric-vehicle tax credits as pressures on Tesla. Those are AP’s explanations and context, not a quantified breakdown from Tesla showing how much each factor contributed. Tesla’s annual filing also identifies shifting consumer trends, policy uncertainty, inflation, energy prices, interest rates, competition and incentive changes as risks affecting demand; it does not attribute the annual delivery decline to one cause.
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The annual figures document a sustained decline in deliveries alongside lower total and automotive revenue, but they do not predict what happens next. Tesla’s filing presents new products and autonomy as potential growth opportunities while also describing demand, policy, macroeconomic and competitive risks. Those are forward-looking possibilities and disclosed risks, not evidence that a recovery or further decline is assured.
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- Compare full-year deliveries with full-year deliveries, rather than mixing a quarterly figure with an annual total.
- Keep total revenue distinct from automotive sales revenue; the reported 9% decline applies to automotive sales revenue, not the whole company.
- Read delivery figures alongside average selling price, costs and the performance of Tesla’s non-automotive businesses.
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