Chinese automaker BYD overtook Tesla in 2025, dominating the electric vehicle industry.
BYD shared that it sold 2,256,714 battery-electric vehicles, while Tesla made 1,636,129 deliveries. A report from Inside EVs says BYD manufactures plug-in hybrids, whereas Tesla does not, and therefore appeals to a wider consumer base.
“In the fourth quarter, we produced over 434,000 vehicles, delivered over 418,000 vehicles and deployed 14.2 GWh of energy storage products – a record for deployments,” Tesla said in a statement.
In the last three months of 2025, Tesla’s sales decreased 16%, a report from The New York Times explains. Sales for the entire year declined 9%.
In October, Tesla reported only selling 5,400 Cybertrucks for the quarter, a 62.6% drop from the same period last year. The electric vehicle giant had originally projected the production of up to 250,000 Cybertrucks annually. American Faith reported in November that over 46,000 Cybertrucks had been produced between its November 2023 debut and early 2025, although the vehicle experienced declining demand.
Tesla reported $28.1 billion in revenue for the previous quarter, but net profit fell by 37% to $1.4 billion. Analysts and investors expected discussion on key challenges, including declining EV demand, the expiration of a federal tax credit, Cybertruck concerns, and rising tariffs.
Despite the decline in sales, Tesla CEO Elon Musk announced a massive $16.5 billion chip supply deal with Samsung in July. The agreement will see Samsung produce Tesla’s next-generation AI6 chips at its Taylor, Texas factory, boosting the struggling foundry arm of the South Korean tech giant.
