Tesla Deliveries by Quarter 2020 to 2025: Complete Tables, Trends, and Q4 2025 Update

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Q4 2025 Results

Tesla's Q4 2025 results showed a notable quarter-over-quarter decline following the record Q3:

The quarter's energy storage deployment of 14.2 GWh set a new company record, continuing Tesla's emergence as a major player in the utility-scale battery market. However, vehicle deliveries fell 16% year-over-year and 16% quarter-over-quarter from Q3's record 497,099 units.

The Tax Credit Factor

A significant driver of Q4's decline was the expiration of the $7,500 federal EV tax credit on September 30, 2025. This created a predictable pattern:

The impact was substantial across the U.S. EV market:

• Q3 2025: Record 497,099 Tesla deliveries (+7% YoY) as buyers rushed to claim the $7,500 credit
• Q4 2025: 418,227 deliveries (-16% YoY) as post-credit demand normalized
• U.S. EV market share: Dropped from over 11% in September to around 6% in October-November

Tesla responded with price adjustments in October-December 2025, introducing lower-priced "Standard" versions of the Model 3 and Model Y to partially offset the loss of the subsidy.

2025 Full Year Summary

Tesla's 2025 was defined by two major factors: the simultaneous global Model Y refresh and the tax credit expiration. The company delivered 1,636,129 vehicles, down 8.6% from 2024's 1,789,226.

The first quarter bore the brunt of the Model Y transition, with deliveries dropping to 336,681 units as production lines were retooled across all four global factories. By Q3, Tesla had bounced back with a record 497,099 deliveries, demonstrating strong demand for the refreshed Model Y (codenamed "Juniper").

Tesla vs BYD: The 2025 Shift

2025 marked a historic shift in the global EV landscape: BYD officially overtook Tesla as the world's largest manufacturer of battery electric vehicles (BEVs) for the first time on an annual basis.

Several factors contributed to BYD's rise:

• China dominance: BYD benefited from strong demand in the world's largest EV market
• International expansion: BYD's overseas sales exceeded 1 million units for the first time, up 150% YoY
• Vertical integration: In-house battery production enabled competitive pricing

For Tesla, the Model Y refresh timing and tax credit expiration created temporary headwinds. Whether Tesla can reclaim the top spot in 2026 will depend on sustained Model Y momentum and potential new model introductions.

Quarterly Deliveries Chart (2020-2025)

The following visualization shows Tesla's quarterly vehicle deliveries from Q2 2020 through Q4 2025, illustrating the company's growth trajectory and recent plateau:

Historical Analysis: 5 Years of Growth

Tesla's delivery trajectory from 2020 to 2025 tells the story of a company that scaled rapidly, hit temporary plateaus, and navigated significant operational challenges.

The Hypergrowth Phase (2020-2023)

Between 2020 and 2023, Tesla nearly quadrupled its annual deliveries:

• 2020: 499,550 vehicles - The year Tesla proved it could produce at scale
• 2021: 936,172 vehicles (+87%) - Model Y ramp and Shanghai Gigafactory hitting stride
• 2022: 1,313,851 vehicles (+40%) - Overcoming Shanghai lockdowns and opening Berlin/Austin
• 2023: 1,808,581 vehicles (+38%) - Peak annual deliveries to date

The Maturation Phase (2024-2025)

The past two years marked Tesla's transition from hypergrowth to a more mature operational cadence:

• 2024: 1,789,226 vehicles (-1%) - First year-over-year decline, impacted by aging Model 3/Y and rising competition
• 2025: 1,636,129 vehicles (-8.6%) - Strategic volume sacrifice for Model Y refresh, compounded by tax credit expiration

The Energy Storage Story

While vehicle deliveries dominated headlines, Tesla's energy storage business quietly became a significant growth driver in 2025:

At 46.7 GWh deployed in 2025, Tesla's energy storage business more than doubled year-over-year. The Megapack product line, primarily serving utility-scale projects, drove most of this growth as grid operators worldwide accelerated renewable energy storage investments.

Understanding Deliveries vs Production

Tesla reports both production and delivery figures each quarter, and the gap between them can be meaningful:

In Q4 2025, Tesla produced 434,358 vehicles but delivered 418,227 - a gap of 16,131 units (3.7%). This suggests some inventory build-up heading into 2026.

Complete Quarterly Data Tables

Below is the complete quarterly breakdown of Tesla's vehicle deliveries and production from Q2 2020 through Q4 2025. Data is sourced from Tesla's official quarterly production and delivery reports.

2020-2021: Foundation Years

2022-2023: Scaling Era

2024-2025: Transition Period

Annual Summary

Key Takeaways

Frequently Asked Questions

Looking Ahead

With the Model Y refresh complete and the tax credit transition behind it, Tesla enters 2026 with several factors to watch:

• Demand normalization: Can Tesla sustain Model Y momentum without the pre-September tax credit rush?
• New models: The Model Y Performance variant and potential new product introductions
• Energy storage growth: Whether the 113% YoY growth rate can continue
• BYD competition: Tesla's strategy to reclaim the global BEV sales crown

Tesla's Q4 2025 earnings call is scheduled for January 28, 2026, where management will provide additional context on 2026 guidance and strategic priorities.

Data Sources

This analysis is based on Tesla's official quarterly production and delivery reports published on StockTitan. We have covered Tesla's quarterly delivery reports since 2020:

Last updated: January 3, 2026. For corrections or updates, contact our editorial team.

The information provided in this article is for educational and informational purposes only. It does not constitute financial advice, investment recommendation, or an endorsement of any particular investment strategy. Past performance does not guarantee future results. Investors should conduct their own research and consult with a qualified financial advisor before making investment decisions.