Tesla's electric vehicle business had a rough year in 2025.

After years of record new-EV sales, a wave of off-lease models is now hitting dealer lots, giving shoppers more choice, lower prices and vehicles that still offer the core EV advantages such as fewer moving parts, lower maintenance costs and no trips to the gas station.

Black noted that EV sales are growing at 20-25% per year and the company’s marketing issues are “easy to fix” with a few changes and a new vehicle launch. ・According to Black, Tesla needs to launch a conventional pickup truck,

The Chinese automaker BYD sold 2.26 million electric vehicles in 2025, surpassing Tesla as the world's top EV seller.

Tesla's annual vehicle deliveries fell for a second consecutive year in 2025, but optimism around AI, robotics and robotaxis has helped the stock stay up for the past year.

Tesla Inc.’s China factory shipments dropped in 2025 despite a bump in December, as the Elon Musk-led carmaker struggled with a slowdown in global sales and lost its No. 1 spot.