Tesla revenue falls for first time as Musk bets big on robots and autonomy

Tesla reported 2025 revenue of $94.8 billion, down 3 percent year-on-year and marking the first annual revenue decline since the electric car maker began publishing financial results in 2010.

Quarterly revenue slipped to $24.9 billion, also down 3 percent year-on-year, even as the company narrowly beat analysts' expectations.

Automotive revenue fell 11 percent to $17.7 billion in the quarter after Tesla delivered 418,227 cars in the final three months of 2025 – a 15.6 percent drop on the same period a year earlier. For the year as a whole, deliveries were down 8.6 percent, the second straight annual decline in units and the steepest Tesla has ever reported.

The slide comes as the EV market gets more crowded and less forgiving, with cheaper rivals such as China's BYD pushing harder on price and volume. It has also arrived at an awkward moment politically, with ...