Tesla Inc. (NASDAQ:TSLA) is one of the most buzzing stocks to invest in according to hedge funds. On January 2, Truist analyst William Stein lowered the firm’s price target on Tesla to $439 from $444 with a Hold rating on the shares. Following the company’s Q4 2025 announcement of 418,000 deliveries, Truist characterized the subsequent stock recovery as a better-than-feared reaction from investors. While vehicle deliveries lagged, energy storage deployments exceeded expectations. However, Truist maintains ...

2025年，全球汽车产业史的章节被彻底改写。 美国有线电视新闻网（CNN）、英国广播公司（BBC）等国际主流媒体争相报道，长期领跑全球新能源汽车总销量的中国品牌比亚迪，首次 在纯电汽车全年销量上超越特斯拉，以2025年225.7万辆的纯电销量加冕全球冠军，同比增幅达27.86%。 美媒CNN报道：世界迎来新的电动汽车王者，并非特斯拉 全球汽车产业权力结构正经历深刻重构——在电动化与智能化时代，中国汽车工业凭借其成熟的垂直整合体系、极致的成本控制能力、快速的 技术迭代效率以及对多元市场的穿透力，在全球汽车市场证明了竞争力。 01.比亚迪赶超特斯拉,全球纯电销冠易主 2025年车市成绩单中，比亚迪再度成为焦点：新能源汽车总销量达460.2万辆，相当于平均每天售出约1.3万辆，全球最大新能源汽车制造商的 地位无可撼动。 更具战略意义的突破在纯电赛道，比亚迪已经在全年销量上把特斯拉甩在身后。 并且，这是比亚迪连续第五个季度在纯电销量上超越特斯拉，意味着其领先绝非偶然，而是建立在稳固市场基础上的常态。 这场历史性的超越，难免让人联想起特斯拉CEO埃隆·马斯克近年来对比亚迪态度的戏剧性转变。 2011年，马斯克曾公开宣称 ...

Core Viewpoint - Tesla's electric vehicle (EV) deliveries have declined for the second consecutive year in 2025, raising concerns about the company's core business performance and future growth potential [2][4][12]. Group 1: Delivery Performance - In Q4 2025, Tesla sold 418,227 vehicles, a 16% decrease from Q4 2024, with total annual deliveries around 1.64 million, down from nearly 1.8 million in 2024 [4][5]. - The year-over-year decline in deliveries accelerated to over 8% in 2025, compared to a 1% decline in 2024, resulting in Tesla losing its position as the leading EV manufacturer to BYD, which achieved record sales of 2.26 million BEVs, a 28% increase year-over-year [5][12]. Group 2: Future Prospects - CEO Elon Musk is focusing on autonomous vehicles and artificial intelligence as future growth drivers, although significant revenue from these initiatives is not expected for several years [3][12]. - Tesla's robotaxi service, launched in June, is operational in select cities, and the company is testing driverless robotaxis, indicating progress in autonomous mobility [6][8]. Group 3: Energy Business - Tesla's Energy Generation and Storage segment is performing well, with a record deployment of 14.2 GWh of energy storage products in Q4 2025 and a 48.7% increase in total deployments for the year, reaching 46.7 GWh [9]. Group 4: Financial Performance and Valuation - Tesla shares have underperformed the industry, trading at over 13.75 times forward 12-month sales, significantly above the industry average [10]. - The Zacks Consensus Estimate predicts a 3% decline in Tesla's 2025 revenues and a 33% decline in EPS, but forecasts an improvement of 11.6% in revenues and 42.4% in EPS for 2026 [11]. Group 5: Investment Outlook - Despite the delivery slowdown, Tesla's advancements in full self-driving, robotaxis, and energy storage suggest potential for long-term growth, although investors are advised to temper expectations regarding the timeline for monetization [12][13].

Core Insights - Tesla (TSLA) experienced a decline in annual deliveries for the second consecutive year in 2025, with a total of approximately 1.64 million vehicles delivered, down over 8% year-over-year [3][9]. - The fourth quarter of 2025 saw Tesla sell 418,227 vehicles, a 16% decrease compared to the same quarter in 2024, primarily due to expiring EV tax credits, aging models, and increased competition from companies like BYD [3][4][9]. - Despite challenges in the core EV business, CEO Elon Musk is focusing on autonomous vehicles and artificial intelligence as future growth engines, although significant revenue from these areas is expected to be years away [2][18]. Delivery Performance - In 2025, Tesla's deliveries totaled roughly 1.64 million vehicles, which included 1.58 million units of Model 3/Y and 50,850 other models, marking a decline from nearly 1.8 million vehicles sold in 2024 [3][9]. - The year-over-year decline in deliveries accelerated in 2025, with a drop of more than 8%, compared to a 1% decline in 2024 [4][9]. - Tesla lost its position as the leading EV manufacturer to BYD, which recorded sales of 2.26 million BEVs in 2025, reflecting a 28% increase year-over-year [4]. Future Growth Areas - Tesla is investing heavily in Full Self-Driving (FSD) technology and robotaxis, which Musk considers the most valuable future segments for the company [5][18]. - The robotaxi service, operational in cities like Austin and San Francisco, is set to expand to additional locations, with the FSD fleet surpassing 7 billion total miles [5][6]. - Tesla's Energy Generation and Storage business is thriving, with a record deployment of 14.2 GWh of energy storage products in Q4 2025 and a 48.7% increase in full-year deployments to 46.7 GWh [10]. Financial Performance and Valuation - Tesla's shares have underperformed the industry over the past year, trading at more than 13.75 times forward 12-month sales, significantly above the industry average [13][14]. - The Zacks Consensus Estimate for Tesla's 2025 revenues and EPS indicates a year-over-year contraction of 3% and 33%, respectively, but suggests improvements of 11.6% and 42.4% for 2026 [16]. - Despite the delivery slowdown, Tesla's ongoing advancements in autonomous driving, robotaxis, and energy storage could reshape its long-term earnings mix, making it a high-risk, high-reward investment [18][19].

新年伊始，各车企相继交出2025年销售成绩单，其中既有异军突起的黑马，也有陷入转型阵痛的老玩家。 从行业视角来看，车市一大关键转折点出现在10月。根据中国汽车工业协会发布的数据，当月我国新能源汽车销量约为171.5万辆，占新车总 销量的比重首次过半，达到51.6%，形成对传统燃油车的超越；11月，我国新能源汽车渗透率环比进一步提升至53.2%。 新能源汽车已从早期的小众选择，转变为足以改变行业格局的主流消费之选。行业发展初期，技术的快速迭代叠加政策的明显倾斜不断推高新 能源汽车的市场接受度，也催生出更多机会。新老造车势力竞相入局，直接引燃了行业的激烈竞争。 当潮水退去，赛道内的玩家才迎来真正的挑战。乘联分会此前发文称，2025年12月汽车市场处于前期多项消费刺激政策集中退出的调整阶段。 随着政策支撑效应减弱，市场增长动能面临转换，行业逐步回归由供需基本面主导的常态化季节性运行轨道。 行业格局持续调整，也为2026年埋下了充满变数的伏笔。 | | 在小品牌 | 2025年销量(万辆) | 2025年目标(万辆) | 目标完成度 | | --- | --- | --- | --- | --- | | 新势力 | ...

Core Insights - Tesla reported its Q4 2025 production and delivery results, achieving over 434,000 vehicle productions and over 418,000 deliveries, alongside a record 14.2 GWh of energy storage deployments [2][5]. Group 1: Vehicle Production and Deliveries - In Q4 2025, Tesla produced 422,652 units of Model 3/Y and delivered 406,585 units, reflecting a year-over-year growth of 3% [3][5]. - Other models saw production of 11,706 units and deliveries of 11,642 units, with a year-over-year increase of 5% [5]. - Total vehicle production for Q4 2025 reached 434,358 units, with total deliveries at 418,227 units, marking a 3% increase year-over-year [5]. Group 2: Annual Performance - For the entire year of 2025, Tesla's total vehicle production was 1,654,667 units, with total deliveries at 1,636,129 units [5]. - Model 3/Y production for the year was 1,600,767 units, with deliveries of 1,585,279 units [5]. - Other models produced 53,900 units and delivered 50,850 units throughout the year [5]. Group 3: Energy Storage Deployment - Tesla's energy storage deployments reached 46.7 GWh for the year 2025, indicating strong growth in its energy business [5].

新浪科技讯 1月3日下午消息，近日，特斯拉发布2025年全球生产与交付报告。数据显示，特斯拉2025 年全年全球范围内共计生产电动车约165.5万辆，交付约163.6万辆；储能产品全年装机量达46.7吉瓦 时，同比增长48.7%。其中第四季度特斯拉全球生产电动车约43.4万辆，交付共41.8万辆；储能产品装 机量达14.2吉瓦时，环比增长13%，创下季度装机量新纪录。 | 2025 Q4 | Production 生产 | Deliveries 交付 | Subject to operating lease accounting 经营性租赁占比 | | --- | --- | --- | --- | | Model 3/Y | 422,652 | 406,585 | 3% | | 其他车型 | 11,706 | 11,642 | 5% | | Total 总计 | 434,358 | 418,227 | 3% | | 2025 全年 | Production 生产 | Deliveries 交付 | | --- | --- | --- | | Model 3/Y | 1,600,767 | 1,585,279 ...

特斯拉丢掉"全球电动车销冠王座"。 当地时间1月2日，特斯拉发布了2025年四季度和全年的汽车交付数据，两项数据均大幅下滑。 值得注意的是，就全年数据来看，特斯拉有史以来首次被中国汽车制造商比亚迪超越。数据显示，特斯拉2025年全球交付汽车163.6万辆，同比下降约 8.6%。同期，比亚迪纯电动汽车销量为225.67万辆。 当天，特斯拉美股高开低走，开盘一度涨近2%，随后持续走低，盘中一度跌超3%，截至收盘，跌幅达2.59%，报438.07美元/股。 不过，数据显示，特斯拉储能业务维持高速增长态势。从2025年全年来看，尽管销量承压，但特斯拉股价总体持续上涨，并在去年12月底创下历史新高， 市值一度超过了1.6万亿美元。 全年产销下滑 根据特斯拉发布的数据，公司2025年四季度生产超过43.4万辆车辆，交付了超过41.8万辆，并部署了14.2 GWh的储能产品——创下部署次数新高。公司将 于2026年1月28日(星期三)市场收盘后公布2025年第四季度的财务业绩。届时，特斯拉将发布一份简短的公告，其中包含2025年第四季度更新的数据。 | | 四季度产量 | 四季度交付 | 全年产量 | 全年交付 | | - ...

新华财经上海1月3日电（记者王鹤）特斯拉最新发布的数据显示，2025年特斯拉全球范围内共计生产电动车约165.5万辆，交付约163.6万辆；储能产品 全年装机量达46.7吉瓦时，同比增长48.7%。 | 2025 全年 | Production | Deliveries | | --- | --- | --- | | | 生产 | 交付 | | Model 3/Y | 1,600,767 | 1,585,279 | | 真他生型 | 53,900 | 50,850 | | Total 总计 | 1,654,667 | 1,636,129 | 根据此前公司发布的数据，2025年特斯拉超级充电网络规模扩大了18%；Powerwall储能产品全球安装量突破百万；与美国道路平均值相比，特斯拉智能 辅助驾驶已经将重大碰撞事故发生率降至1/8。2025年12月30日，特斯拉全球第900万辆电动车顺利在上海超级工厂下线。 （文章来源：新华财经） | 2025 Q4 | Production 生产 | Deliveries 交 付 | Subject to operating lease accounting 经营性租赁占比 ...

特斯拉丢掉"全球电动车销冠王座"。 当地时间1月2日，特斯拉发布了2025年四季度和全年的汽车交付数据，两项数据均大幅下滑。 值得注意的是，就全年数据来看，特斯拉有史以来首次被中国汽车制造商比亚迪超越。数据显示，特斯拉2025年全球交付汽车163.6万辆，同比下降约 8.6%。同期，比亚迪纯电动汽车销量为225.67万辆。 当天，特斯拉美股高开低走，开盘一度涨近2%，随后持续走低，盘中一度跌超3%，截至收盘，跌幅达2.59%，报438.07美元/股。 不过，数据显示，特斯拉储能业务维持高速增长态势。从2025年全年来看，尽管销量承压，但特斯拉股价总体持续上涨，并在去年12月底创下历史新高， 市值一度超过了1.6万亿美元。 | | 四季度产量 | 四季度交付 | 全年产量 | 全年交付 | | --- | --- | --- | --- | --- | | Model 3/Y | 422,652 | 406,585 | 1,600,767 | 1,585,279 | | 其他车型 | 11,706 | 11,642 | 53,900 | 50,850 | | 合计 | 434,358 | 418,227 | 1 ...