NEW YORK – Tesla Inc. said Friday that it sold 1.64 million electric vehicles worldwide in 2025, ceding its crown as the world’s top EV seller to Chinese rival BYD Co. for the first time.
Tesla’s sales fell 9 percent from 2024 as chief executive Elon Musk’s involvement in politics caused a backlash from consumers in the United States and Europe in particular, leading to sluggish sales in major markets.
The expiry of EV tax credits under President Donald Trump’s administration in September also sapped EV demand in the world’s second biggest auto market.
BYD boosted global sales 28 percent to 2.26 million EVs last year, attracting customers with its affordable products while sales were also buoyed by subsidies in China.
Still, the outlook for the global EV market looks tough, with growth in sales of battery-powered vehicles slowing. Consumers believe they are still too expensive and concerns remain over long charging times and poor availability of charging infrastructure.
