The fallout from Elon Musk's plunge into politics a year ago is still hammering his Tesla business as both sales and profits dropped sharply again in the latest quarter.

As Tesla’s sales decline following Musk’s forays into US politics and amid a lack of new models, BYD has overtaken it to become the world’s largest manufacturer of EVs. Its annual revenues surpassed $100 billion for the first time in 2024.

Tesla's European market share continues declining as Volkswagen AG and Chinese automakers deploy aggressive volume strategies, highlighting challenges from the electric vehicle (EV) maker's narrow product range and CEO Elon Musk's controversial public statements.

Tesla's profits plunged 16% over a three-month stretch ending in June. Analysts discuss CEO Elon Musk's role in this dip.

With Q1 2025 sales reports now available, we know that Tesla sold 60,000 fewer vehicles than it did last year. Tesla isn’t the only automaker experiencing tariff-induced sales difficulties. Elon Musk’s company’s grasp on being the top EV maker in the world is slipping,

Hong Kong sells fewer than 40,000 cars a year, but mainland carmakers consider it the beachhead for breaking into the global right-hand-drive market.

The reported exit comes at a time when Tesla is grappling with flagging sales, as demand in Europe and North America crumble amid Tesla’s aging vehicle line-up and increased competition from

BYD has been gaining momentum for years, and it’s now outpacing Tesla in total EV unit sales, especially in China and other emerging markets where price-sensitive buyers dominate. While Tesla is still pushing innovation, BYD is winning the bread-and-butter EV race on price, volume, and execution.

BYD's luxury brand Yangwang will enter European market in 2026 as sales fall in China. Yangwang EVs could face 17% tariffs in the EU.