新浪财经·2026-01-03 09:17Core Viewpoint - Tesla's fourth-quarter delivery volume decreased by 16% year-on-year to 418,227 units, falling short of both analyst expectations and the company's own targets, while BYD continues to show growth in electric vehicle sales [2][3]. Group 1: Tesla's Performance - Tesla's fourth-quarter delivery volume was 418,227 units, a 16% decline compared to the previous year, and did not meet analyst expectations or the company's goals [2][3]. - For the full year, Tesla delivered approximately 1.64 million vehicles, which is about 72.6% of BYD's delivery volume of nearly 2.26 million units, marking a decline of over 8% from the previous year's 1.79 million [3][6]. - Tesla's market share in Europe has decreased, with new car registrations dropping by 39% in the first 11 months of 2025, while BYD's registrations surged by 240% [7]. Group 2: BYD's Growth - BYD's pure electric vehicle sales grew by nearly 28% year-on-year, with total deliveries reaching close to 2.26 million units in 2025 [3][6]. - BYD has also sold over 2 million plug-in hybrid vehicles in the past two years, further widening the gap with Tesla [6]. Group 3: Market Outlook - Analysts have significantly downgraded their expectations for Tesla's 2026 delivery volume from over 3 million to approximately 1.8 million [7]. - The introduction of a cheaper version of the Model Y may help Tesla regain some market share in the coming quarters, especially in emerging markets like Thailand, Vietnam, and Brazil [7]. Group 4: Autonomous Driving Focus - Elon Musk has shifted attention from Tesla's declining sales by promoting the progress of its Robotaxi initiative, which aims for fully autonomous driving without a safety supervisor [8][10]. - Currently, the availability of autonomous vehicle services is limited, with only a few vehicles operational in select areas [10].