After claiming a return to electric vehicle delivering growth in 2025, Tesla (TSLA) has now all but admitted that it won’t happen and has fully given up on providing guidance.
Tesla has consistently grown its electric vehicle deliveries every year for the past decade, until the growth stalled in 2024.
In January 2025, Tesla was confident in predicting that it would return to growth in 2025:
“With the advancements in vehicle autonomy and the introduction of new products, we expect the vehicle business to return to growth in 2025.”
After a terrible first quarter, during which its vehicle deliveries declined by 13%, Tesla began to shy away from predicting growth in 2025. Instead, it stated that it would update its guidance after reporting Q2 2025 results.
Tesla had even worse performance in Q2 with deliveries being down 13.5%.
It has now released its Q2 2025 financial results, and the automaker has lost confidence in vehicle delivery growth for 2025.
Here are Tesla’s latest comments about vehicle volume outlook:
It is difficult to measure the impacts of shifting global trade and fiscal policies on the automotive and energy supply chains, our cost structure and demand for durable goods and related services. While we are making prudent investments that will set up both our vehicle and energy businesses for growth, the actual results will depend on a variety of factors, including the broader macroeconomic environment, the rate of acceleration of our autonomy efforts and production ramp at our factories.
The automaker has abandoned the language of “being between two growth waves” in its vehicle business.
It is also no longer offering any specific guidance and only refers to growth as a potential future result of current “prudent” investments, without providing a timeline.
Electrek’s Take
Tesla is lying through its teeth here, and it’s hard to watch. It is blaming current difficulties on everything but the true culprit: Elon Musk.
The reason Tesla’s deliveries are down 13% this year is not due to global trade and fiscal policies, energy supply chains, or the “macroeconomic environment.” It’s because Tesla’s demand is collapsing over brand damage caused by Elon Musk.
You only have to look at the fact that EV sales are surging globally.
EV sales are doing great. Tesla is not. Therefore, it’s not the macroeconomics even though those might become problematic soon.
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