Tesla bows to rival from China. No longer the world's number one after 2025

Tesla has seen nearly double-digit declines in electric car sales in 2025. It delivered 1.64 million all-electric vehicles to customers last year, down 9 percent from 2024, according to the Financial Times.

There are a number of reasons for this, according to the company - from stiff competition to the removal of US tax credits for the purchase of electric vehicles.

The U.S. company has thus ceded the world's number one spot to a Chinese competitor. Automaker BYD announced this week that it will sell 2.26 million all-electric vehicles in 2025, up 28 percent from the previous year. That's largely due to expansion into Europe and other foreign markets.

(ft)