Tesla, Inc. reported total revenues of $94.83 billion for the fiscal year ending December 31, 2025, a decrease of $2.86 billion, or 3%, compared to the previous year. The automotive segment, which includes vehicle sales and regulatory credits, generated $69.53 billion, down 10% from $77.07 billion in 2024. This decline was attributed to an 8% decrease in cash deliveries and a lower average selling price per vehicle, influenced by a shift in sales mix and increased customer incentives. In contrast, the energy generation and storage segment saw a 27% increase in revenue, reaching $12.77 billion, primarily due to higher deployments of Megapack and Powerwall products.
Net income attributable to common stockholders was $3.79 billion, a significant decrease of $3.30 billion, or 47%, from the prior year. The decline in profitability was driven by reduced automotive sales and regulatory credits, alongside increased costs in both the automotive and energy segments. The gross margin for the total automotive segment decreased to 17.8% from 18.4% in 2024, reflecting the impact of lower regulatory credits and changes in sales revenue and costs. However, the energy generation and storage segment improved its gross margin to 29.8%, up from 26.2% in the previous year.
Operationally, Tesla produced approximately 1.66 million vehicles and delivered around 1.64 million in 2025. The company continues to focus on expanding its manufacturing capacity and optimizing production efficiency, particularly with the introduction of new vehicle models and advancements in autonomous driving technology. The launch of the Robotaxi service in June 2025 is expected to enhance Tesla's service-driven business model, leveraging its AI capabilities and infrastructure.
As of December 31, 2025, Tesla's cash and cash equivalents totaled $44.06 billion, an increase of $7.50 billion from the end of 2024. The company reported cash flows from operating activities of $14.75 billion, slightly down from $14.92 billion in 2024. Capital expenditures were reduced to $8.53 billion from $11.34 billion in the previous year, reflecting a strategic focus on cost management while continuing to invest in growth opportunities, including AI initiatives and manufacturing expansions.
Looking ahead, Tesla anticipates capital expenditures exceeding $20 billion in 2026, driven by investments in AI infrastructure, manufacturing capabilities, and the expansion of its service and charging networks. The company remains committed to navigating the challenges posed by evolving trade policies and market conditions while pursuing long-term growth in both its automotive and energy segments.
About Tesla, Inc.
Tesla designs and manufactures high-performance electric vehicles and energy storage and generation systems. Its core segments include automotive, offering models like Model 3, Y, S, X, Cybertruck, and Semi, and energy products such as Powerwall, Megapack, and Solar Roof. The company emphasizes innovation, self-driving technology, and a direct sales model, serving global markets with a focus on sustainable energy solutions and advanced AI-driven vehicle features.
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