Tesla reported 418,227 vehicle deliveries in the fourth quarter. The electric vehicle maker faces steep competition across the globe from companies including BYD, Kia, Hyundai and Volkswagen. In the U.S., a $7,500 federal government incentive for EVs came to an end on Sept. 30. In this article Total 2025 deliveries: 1.64 million Total 2025 production: 1.65 million Wall Street expected 426,000 deliveries for the quarter, according to estimates compiled by StreetAccount. In a company-compiled consensus posted to its website on Dec. 29, Tesla said analysts it surveyed were expecting a 15% drop from a year earlier to 422,850 vehicles. Deliveries for Q4 2025 were about 16% lower than the fourth quarter of 2024, when Musk's EV company reported 495,570. Q4 2025 numbers for production were down 5.5% from a year ago, when Tesla produced 459,445 vehicles. For the full year, Tesla's deliveries fell 8.6% to 1.64 million from 1.79 million in 2024. Tesla said deliveries of its entry-level Model 3 sedan and Model Y SUV amounted to 406,585 in the fourth-quarter, or about 97% of total deliveries. Deliveries of its Model S, Model X and Cybertruck vehicles came in at 11,642 during the quarter. After its design debut, Tesla boasted about more than 1 million reservations flooding in for the Cybertruck. The angular, steel pickup has yet to be a best seller for the company. Musk's aerospace and defense company, SpaceX, reportedly purchased tens of millions of dollars worth of Cybertrucks in 2025. Tesla faces heightened competition in the electric vehicle market from China's BYD, South Korea's Kia and Hyundai, and Volkswagen in Europe, among others. BYD topped Tesla as the world's biggest seller of EVs in a calendar year, saying in a statement Thursday that sales grew 28% to 2.26 million units. Deliveries are the closest approximation of sales reported by Tesla, but are not precisely defined in the company's shareholder communications. In its energy business, Tesla said that it deployed 14.2 gigawatt hours of battery energy storage products in the fourth quarter, following a record in the prior period, when it deployed 12.5 GWh. Tesla's battery energy storage systems include backup batteries for homes and larger systems used alongside data centers and utilities. Arrows pointing outwards