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Tesla Loses Global EV Market Leadership to BYD as Deliveries Decline

Tesla's vehicle deliveries fell for the second consecutive year, losing its top spot as the leading electric vehicle maker to BYD. The decline comes amid increased competition and the expiration of U.S. tax credits.

Insights:
Tesla Inc. has lost its position as the world's leading electric vehicle maker to BYD Company Limited (ADR) after reporting a decline in annual vehicle deliveries for the second consecutive year. In 2025, Tesla delivered 1.64 million vehicles, down from 1.79 million in 2024, marking a significant shift in the competitive landscape of the electric vehicle (EV) market. This change comes despite a 28% rise in global EV sales, underscoring the challenges Tesla faces amid intensifying competition and regulatory headwinds.
A Tesla Model 3 is displayed in a showroom as the U.S. prepares to announce tariffs on Taiwan, in Taipei, Taiwan, on July 31, 2025. REUTERS/Ann Wang
A Tesla Model 3 is displayed in a showroom as the U.S. prepares to announce tariffs on Taiwan, in Taipei, Taiwan, on July 31, 2025. REUTERS/Ann Wang
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