Tesla raportuje dane o dostawach za IV kw.: niewielkie niedobory w dostawach pojazdów; segment energetyczny osiąga rekordowy poziom
Czwarty kwartał 2025 roku Tesli odzwierciedla firmę w okresie przejściowym. Podczas gdy segment motoryzacyjny nieznacznie nie sprostał oczekiwaniom Wall Street co do dostaw, Tesla Energy...
Wyniki Tesli za Q4 2025 ukazują firmę w okresie przejściowym: dostawy samochodów były nieznacznie poniżej oczekiwań, podczas gdy Tesla Energy odnotowała rekordowe wyniki.
Overall results
- Total Q4 deliveries: 418,227 (analyst consensus: 422,850).
- Tesla had briefly posted the analyst-consensus figures on its Investor Relations site days earlier, which led some to expect a stronger beat similar to Q3 2025 (when results were boosted by the end of the U.S. EV tax rebate).
Quarterly breakdown (Q4 2025 vs Q3 2025 vs Q4 2024)
Delivery numbers
- Model 3/Y: 406,585 (Q3 481,166; Q4 2024 471,930)
- Other models: 11,642 (Q3 15,933; Q4 2024 23,640)
- Total: 418,227 (Q3 497,099; Q4 2024 495,570)
Production numbers
- Model 3/Y: 422,652 (Q3 435,826; Q4 2024 436,718)
- Other models: 11,706 (Q3 11,624; Q4 2024 22,727)
- Total: 434,358 (Q3 447,450; Q4 2024 459,445)
Full-year (2025 vs 2024)
Delivery numbers
- Model 3/Y: 1,585,279 (2024: 1,704,093)
- Other models: 50,850 (2024: 85,133)
- Total: 1,636,129 (2024: 1,789,226)
Production numbers
- Model 3/Y: 1,600,767 (2024: 1,679,338)
- Other models: 53,900 (2024: 94,105)
- Total: 1,654,667 (2024: 1,773,443)
Context and highlights
- The Model 3 and Model Y remain the core of Tesla’s business, with the refreshed Model Y maintaining global demand following its launch earlier in the year.
- “Other models” in Q4 included Cybertruck deliveries to xAI and SpaceX, which helped reduce inventory pressure. Tesla’s global inventory stood at roughly 16,000 vehicles.
- While automotive volumes softened versus prior quarters, the energy business delivered a major upside.
Tesla Energy
- Q4 energy storage deployments: 14.2 GWh (analyst consensus: 13.4 GWh).
- This represents significant scaling of Megapack deployments and suggests operational bottlenecks at Mega Lathrop and Mega Shanghai are being alleviated.
- Energy storage carries higher margins than vehicle sales, so this deployment surge materially strengthens Tesla’s revenue mix—particularly meaningful after the end of certain U.S. cap-and-trade tax incentives.
What to watch
- Tesla’s Q4 and full-year 2025 earnings call is scheduled for Wednesday, January 28, 2026, after markets close (4:30 PM Central Time). The market will be focused on margin outlooks: how vehicle margins hold up amid softer deliveries and how much the energy business will contribute to profitability going forward.
Overall results
- Total Q4 deliveries: 418,227 (analyst consensus: 422,850).
- Tesla had briefly posted the analyst-consensus figures on its Investor Relations site days earlier, which led some to expect a stronger beat similar to Q3 2025 (when results were boosted by the end of the U.S. EV tax rebate).
Quarterly breakdown (Q4 2025 vs Q3 2025 vs Q4 2024)
Delivery numbers
- Model 3/Y: 406,585 (Q3 481,166; Q4 2024 471,930)
- Other models: 11,642 (Q3 15,933; Q4 2024 23,640)
- Total: 418,227 (Q3 497,099; Q4 2024 495,570)
Production numbers
- Model 3/Y: 422,652 (Q3 435,826; Q4 2024 436,718)
- Other models: 11,706 (Q3 11,624; Q4 2024 22,727)
- Total: 434,358 (Q3 447,450; Q4 2024 459,445)
Full-year (2025 vs 2024)
Delivery numbers
- Model 3/Y: 1,585,279 (2024: 1,704,093)
- Other models: 50,850 (2024: 85,133)
- Total: 1,636,129 (2024: 1,789,226)
Production numbers
- Model 3/Y: 1,600,767 (2024: 1,679,338)
- Other models: 53,900 (2024: 94,105)
- Total: 1,654,667 (2024: 1,773,443)
Context and highlights
- The Model 3 and Model Y remain the core of Tesla’s business, with the refreshed Model Y maintaining global demand following its launch earlier in the year.
- “Other models” in Q4 included Cybertruck deliveries to xAI and SpaceX, which helped reduce inventory pressure. Tesla’s global inventory stood at roughly 16,000 vehicles.
- While automotive volumes softened versus prior quarters, the energy business delivered a major upside.
Tesla Energy
- Q4 energy storage deployments: 14.2 GWh (analyst consensus: 13.4 GWh).
- This represents significant scaling of Megapack deployments and suggests operational bottlenecks at Mega Lathrop and Mega Shanghai are being alleviated.
- Energy storage carries higher margins than vehicle sales, so this deployment surge materially strengthens Tesla’s revenue mix—particularly meaningful after the end of certain U.S. cap-and-trade tax incentives.
What to watch
- Tesla’s Q4 and full-year 2025 earnings call is scheduled for Wednesday, January 28, 2026, after markets close (4:30 PM Central Time). The market will be focused on margin outlooks: how vehicle margins hold up amid softer deliveries and how much the energy business will contribute to profitability going forward.
