/ December 15, 2025 Tesla’s latest US sales figures present a complex narrative for the electric vehicle leader. November 2025 saw the company’s deliveries in the region plummet to their lowest point in nearly four years, a direct consequence of the expiration of federal tax credits. Despite this operational setback, Tesla’s stock managed to close higher on Friday, prompting market observers to question whether investor fascination with artificial intelligence prospects is overshadowing fundamental challenges in the core automotive business. Aggressive Incentives Deployed to Counteract Downturn In a decisive move to stimulate demand following the subsidy withdrawal, Tesla’s management has launched its most extensive incentive campaign in years. For deliveries completed by December 31, 2025, the automaker is offering 0% financing for terms extending up to 72 months. Additionally, it has introduced zero-down-payment leasing options for the Model Y, signaling a clear push to clear inventory and bolster year-end figures. A Market Share Gain Amidst a Broader Collapse Data from Cox Automotive reveals that Tesla sold approximately 39,800 vehicles in the United States during November 2025. This represents a 23% decline compared to the same month last year and constitutes the weakest monthly performance since January 2022. The primary catalyst was the cessation of the $7,500 federal tax credit at the end of September, which had pulled significant demand forward into the third quarter. However, context is crucial. While Tesla’s absolute numbers fell, the overall US EV market contracted by over 41%. Within this shrunken market, Tesla’s share of sales surged dramatically from 43.1% to 56.7%. Market analysts note that the loss of the subsidy is disproportionately affecting sales of Tesla’s standard models, potentially cannibalizing them in favor of higher-margin premium variants.