Tesla reported a 13% year-over-year decline in global vehicle deliveries for the first quarter of 2025, missing its projected total by more than 25,000 cars. 

The New York Times reports that Tesla delivered roughly 337,000 cars in Q1, down from 387,000 in that same quarter in 2024, and well short of the 360,000-370,000 projected by investors. Marking a bellwether for the company's struggles, the Elon Musk-owned automaker saw its sales dip by 12% year-to-date in Norway, where EVs make up more than 90% of new car sales. In 2024, Tesla accounted for nearly 25% of total vehicle sales in the Scandinavian country — the most of any carmaker — before sliding to third place behind Volkswagen and Toyota in 2025, and seeing its share of new car sales  in Norway cut in half.

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This comes on the heels of Tesla's stock price tumbling by 36% in Q1, making it the worst quarter the company has seen since 2022, and the third biggest drop in its 15 years as a publicly traded company. Musk has also faced widespread criticism for his role as a senior advisor to President Trump, and as the head of the so-called Department of Government Efficiency (DOGE). In his role leading DOGE, the Tesla CEO has overseen the firing of thousands of government employees, while erroneously claiming to have eliminated hundreds of billions of dollars in government waste and fraud, according to a fact check from The New York Times.

Tesla has also seen increased competition from an EV market that has quickly evolved to match the carmaker's offerings. That includes Volkswagen, Volvo and BMW, as well as Chinese EV manufacturers such as BYD, all of whom now offer a wide range of electric and hybrid sedans, pickups and crossovers. In February, BYD sold more than 318,000 electric and hybrid passenger vehicles, for a 161% year-over-year increase.