The fourth quarter of 2025 shows Tesla in transition. The company delivered 418,227 vehicles, narrowly missing the analyst consensus of 422,850, while Tesla Energy reached record deployment levels.
Tesla released its Q4 production and delivery numbers via its investor relations site. Total deliveries for the quarter were 418,227 vehicles, short of the consensus by 4,623 units.
Breaking Down the Numbers
This quarter’s delivery total is not at the record level seen in Q3 2025. The miss against expectations was 4,623 vehicles. The Q4 disclosure also allows a review of full-year production and delivery figures.
Complete quarterly numbers, with comparisons to the prior quarter and year-over-year, are shown below.
| Q4 2025 | Q3 2025 | Q4 2024 | |
|---|---|---|---|
| Delivery Numbers | |||
| Model 3/Y | 406,585 | 481,166 | 471,930 |
| Other Models | 11,642 | 15,933 | 23,640 |
| Total | 418,227 | 497,099 | 495,570 |
| Production Numbers | |||
| Model 3/Y | 422,652 | 435,826 | 436,718 |
| Other Models | 11,706 | 11,624 | 22,727 |
| Total | 434,358 | 447,450 | 459,445 |
Year over Year
| 2025 | 2024 | |
|---|---|---|
| Delivery Numbers | ||
| Model 3/Y | 1,585,279 | 1,704,093 |
| Other Models | 50,850 | 85,133 |
| Total | 1,636,129 | 1,789,226 |
| Production Numbers | ||
| Model 3/Y | 1,600,767 | 1,679,338 |
| Other Models | 53,900 | 94,105 |
| Total | 1,654,667 | 1,773,443 |
The Model 3 and Model Y continue to comprise the majority of Tesla’s volume, with the Model Y remaining the best-selling vehicle globally following the refresh earlier in the year.
The “other models” category this quarter includes Cybertruck deliveries to xAI and SpaceX, which helped reduce sitting inventory. Tesla’s global sitting inventory is currently about 16,000 vehicles.
Tesla Energy
In Q4 2025 Tesla deployed 14.2 GWh of energy storage products, above the analyst consensus of 13.4 GWh. This represents a substantial increase in Megapack deployments and indicates operational constraints at Mega Lathrop and Mega Shanghai may be easing.
Energy storage has higher margin characteristics than vehicle sales, so the surge in deployment helps diversify Tesla’s revenue as certain tax credits have ended in the United States.
Q4 2025 Earnings Call
Tesla’s Q4 and full-year 2025 earnings call is scheduled for after market close on Wednesday, January 28, 2026, beginning at 4:30 PM Central Time. Links to the event will be posted on Tesla’s investor relations site closer to the date.
With vehicle deliveries softer but energy deployments at record levels, margins and forward guidance will be the primary focus on the call.
Source: Tesla investor relations announcement and Tesla investor relations consensus posting.
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