Tesla U.S. Sales Fall to Near Four Year Low, November Data Shows

Cox Automotive estimated, in data reported to Reuters on December 11, 2025, that Tesla’s U.S. retail sales fell 22.7 percent year over year in November to roughly 39,800 vehicles, the smallest monthly U.S. sales total for the company since January 2022. The decline came as the broader U.S. new vehicle market softened, with Cox Automotive and media outlets projecting November sales volume near 1.27 million units and a seasonally adjusted annual rate near 15.7 million, below last year’s pace.

Coxautoinc summaries of the firm’s data show the average transaction price for Tesla in November was $54,310, down 1.7 percent versus November 2024 and up 1.5 percent versus October 2025. Model level detail showed a sharp fall in Model 3 volumes, down 42.1 percent year over year and 11.9 percent month over month. The Model Y remained the top selling U.S. electric vehicle, with its price rising 0.9 percent year over year and month over month. Cybertruck deliveries dropped to 1,194 units in November, the lowest monthly Cybertruck volume of 2025, while reported Cybertruck pricing in November was $94,254, higher than a year earlier and above October levels.

Preliminary aggregate electric vehicle figures from Kelley Blue Book, cited by Coxautoinc, put U.S. EV sales at just over 70,000 units in November, a decline of more than 40 percent year over year and roughly 5 percent from October. Analysts and industry groups pointed to two concrete headwinds. First, November had fewer selling days than October and one fewer than November 2024, a timing factor that lowered volume. Second, the expiration of key EV tax credits this year removed a price support that dealers and buyers had used to accelerate purchases, a factor widely cited in media reporting of Cox Automotive forecasts.

The weakness in the United States was mirrored in Europe, where registration data showed steep declines. France registrations fell 58 percent year over year to 1,593 units in November and Denmark registrations fell 49 percent to 534 units, according to industry tracker Carboncredits. Germany’s year to date registrations for Tesla through November were reported at 17,358 vehicles, roughly half of last year’s pace, and November German registrations were down about 20.2 percent versus November 2024. Germany’s road traffic agency reported that registrations of Chinese rival BYD topped Tesla in November, underscoring intensifying competition. In the United Kingdom, preliminary data from New AutoMotive showed Tesla registrations fell 19 percent year over year in November.

Taken together the figures point to a volatile 2025 for Tesla, with intra year peaks and troughs. Industry trackers noted Tesla peaked in August at about 55,500 U.S. units before the November slump. Year to date U.S. sales through the first eight months were earlier reported down roughly 24 percent from the same period in 2024, reflecting softer consumer demand even as production and delivery capacity grew.

For investors and policymakers the numbers matter. Lower volumes and uneven model performance raise questions about pricing leverage, inventory management and the pace of EV adoption without incentives. In Europe the combination of regulatory uncertainty and rapid market entry by Chinese manufacturers is reshaping competitive dynamics. Absent a rebound in demand or new incentives, November’s weakness suggests heightened uncertainty for Tesla’s near term revenue and for the broader transition to battery electric vehicles.