Tesla has released its Q4 and full-year 2025 production and delivery results, posting a solid end-of-year performance but coming in slightly below Wall Street’s delivery expectations for the fourth quarter.
According to the official release, Tesla delivered 418,227 vehicles in Q4 2025, falling short of the analyst consensus of 422,850 deliveries that the company had published in advance on its investor relations website for the first time.
Production for the quarter totaled 434,358 vehicles, while energy storage deployments reached 14.2 GWh, exceeding consensus expectations of 13.4 GWh.
Q4 Deliveries Miss Consensus, Production Remains Strong
While the delivery figure missed expectations by roughly 1.1%, Tesla’s production outpaced deliveries by more than 16,000 vehicles, suggesting inventory build or delivery timing effects heading into year-end.
As in previous quarters, Model 3 and Model Y accounted for the vast majority of deliveries at 406,585 units. Higher-priced and lower-volume “other models,” which include the Model S, Model X, and Cybertruck, contributed 11,642 units, down from the 15,933 deliveries in Q3.
Energy Storage Continues to Outperform
Tesla’s energy business once again stood out. Q4 energy storage deployments of 14.2 GWh came in above consensus, and a new record for the company, beating the previous record of 12.5 GWh set in the previous quarter.
The strong quarter helped push Tesla’s full-year 2025 energy storage deployments to 46.7 GWh, exceeding the full-year consensus estimate of 45.9 GWh and setting another annual record for the company’s energy segment.
Full Year 2025 Results
For the full year, Tesla reported 1,654,667 vehicles produced and 1,636,129 vehicles delivered, reflecting tight alignment between production and deliveries across 2025, but slightly below some earlier expectations and also below previous years.
In 2023 Tesla delivered 1.81 million vehicles in 2023, followed by 1.79 million in 2024, and now 1.63 million in 2025.
Tesla thanked its “customers, employees, suppliers, shareholders and supporters” for helping achieve the results and confirmed that its Q4 earnings call will be streamed live on X on January 28 at 4:30 p.m. CT.
Shares of Tesla (TSLA) dropped 1% in early morning trading following the release of the results.
