Tesla Q4 2025 deliveries fall 16% to 418,227, missing forecasts and slowing annual growth

On January 2, 2026, Tesla reported Q4 2025 deliveries of 418,227 vehicles, about 16% lower than a year earlier and below both Wall Street's 426,000 projection and a 422,850-vehicle analyst survey. Full-year deliveries slipped 8.6% to 1.64 million as production growth cooled, while Model 3 and Model Y accounted for roughly 97% of quarterly deliveries and Cybertruck volumes remained limited. The company also cited shifting incentives, regional competition, and political backlash as ongoing pressures ahead of its planned January 28 release of full Q4 financial results.