https://www.reuters.com/business/autos-transportation/tesla-us-sales-drop-nearly-3-year-low-november-despite-launch-cheaper-versions-2025-12-11/ Skip to main content Exclusive news, data and analytics for financial market professionals Learn more aboutRefinitiv * World Browse World + Africa + Americas + Asia Pacific + China + Europe + India + Israel and Hamas at War + Japan + Middle East + Ukraine and Russia at War + United Kingdom + United States + Reuters NEXT New York * Business Browse Business + Aerospace & Defense + Autos & Transportation + Davos + Energy + Environment + Finance + Healthcare & Pharmaceuticals + Media & Telecom + Retail & Consumer + Future of Health + Future of Money + Take Five + World at Work * Markets Browse Markets + On the Money + Asian Markets + Carbon Markets + Commodities + Currencies + Deals + Emerging Markets + ETFs + European Markets + Funds + Global Market Data + Rates & Bonds + Stocks + U.S. Markets + Wealth + Econ World * Sustainability Browse Sustainability + Boards, Policy & Regulation + Climate & Energy + Land Use & Biodiversity + Society & Equity + Sustainable Finance & Reporting + The Switch + Reuters Impact + COP30 * Legal Browse Legal + Government + Legal Industry + Litigation + Transactional + US Supreme Court * Commentary Browse Commentary + Breakingviews + ROI: Reuters Open Interest * Technology Browse Technology + Artificial Intelligence + Cybersecurity + Space + Disrupted * Investigations * More Sports + Athletics + Baseball + Basketball + Cricket + Cycling + Formula 1 + Golf + NFL + NHL + Soccer + Tennis Science Lifestyle City Memo Graphics Pictures Wider Image Podcasts + Reuters World News + Reuters Morning Bid + Reuters Econ World + On Assignment + Viewsroom + The Big View Live Fact Check Video Sponsored Content + Reuters Plus + Press Releases My News Register Exclusive: Tesla US sales drop to nearly 4-year low in November despite launch of cheaper versions By Abhirup Roy December 11, 20259:23 PM UTCUpdated December 11, 2025 * * * * * * * * FILE PHOTO: Illustration shows Tesla logo Tesla logo is seen in this illustration taken July 23, 2025. REUTERS/ Dado Ruvic/Illustration/File Photo Purchase Licensing Rights, opens new tab * Summary * Companies * Tesla's U.S. sales hit nearly 3-year low in November * Standard variants cannibalize Premium sales, says Cox's Streaty * Tesla's market share rises while EV sales slump SAN FRANCISCO, Dec 11 (Reuters) - Tesla's (TSLA.O), opens new tab U.S. sales dropped to a near four-year low in November, despite the automaker's rollout of new, cheaper versions of its best-selling electric vehicles, estimates from Cox Automotive given exclusively to Reuters showed on Thursday. Making a success of the more affordable variants, called Standard, is important for Tesla and a test of its strategy for how to keep selling cars and bring in revenue as it transitions to making robotaxis and building humanoid robots, which are the core reasons investors value the company at $1.4 trillion. Sign up here. EV sales have taken a hit broadly since the end of September when the Trump administration ended $7,500 federal tax credits. To combat the fall in demand, Tesla in October launched stripped-down versions of its Model Y SUV and Model 3 compact sedan, priced about $5,000 below the previous base models. Demand for Standard versions was expected to support sales in November, but the company's total sales fell nearly 23% to 39,800 vehicles from 51,513 a year earlier and were the lowest since January 2022, according to the data from Cox, which tracks sales across the industry. "The drop certainly shows there is not enough demand for the Standard variants that were supposed to boost sales after the tax credit expiry," Stephanie Valdez Streaty, Cox's director of industry insights, said in an interview with Reuters. "What's also happening is Standard sales are cannibalizing into sales of Premium versions, especially the Model 3." The end of credits hit many EV rivals harder. Overall U.S. EV sales fell more than 41% in November and Tesla's market share rose to 56.7% from 43.1%, the data showed. Tesla did not immediately respond to a request for comment on the sales figures. DEMAND ISSUE After years of soaring sales, Tesla deliveries fell for the first time last year amid high borrowing costs that soured consumer sentiment and rising competition, especially in Europe and China, with new and cheaper models from other automakers. Deliveries this year are expected to drop again. Tesla has not introduced a completely new vehicle since its Cybertruck pickup, which has struggled to find buyers, and the rest of its lineup is older models with minor refreshes. "Tesla has a serious challenge on its hands next year when several other automakers are planning to roll out cheaper vehicles that are also full of fun features," Cox's Streaty said. "So the answer is that Tesla needs a completely new vehicle in its fleet. Period." In addition, CEO Elon Musk's work for U.S. President Donald Trump and far-right political rhetoric sparked protests and hurt Tesla's brand image. Tesla is offering financing deals as low as 0% on the Standard Model Y, its U.S. website showed this week. While such deals during the holiday season are common, analysts and investors said the offer on a variant that started deliveries just over a month ago is a sign of weak demand. Both Standard Model Y and Standard Model 3 were available in inventory on the Tesla website and tagged as having reduced prices. "I think the bottom line is, if the demand was there they wouldn't be offering 0% financing," said Shawn Campbell, an adviser at Camelthorn Investments. "The solution for the demand issue ultimately needs to be new, fresh models." Reporting by Abhirup Roy in San Francisco; Editing by Peter Henderson and Matthew Lewis Our Standards: The Thomson Reuters Trust Principles., opens new tab * Suggested Topics: * Autos & Transportation * ADAS, AV & Safety * EV Battery * Sustainable & EV Supply Chain * Financial Results * * * * * Purchase Licensing Rights Abhirup Roy Abhirup Roy Thomson Reuters Abhirup Roy is a U.S. autos correspondent based in San Francisco, covering Tesla and the wider electric and autonomous vehicle industry. He previously reported from India on global corporations, capital markets regulation, white-collar crime, and corporate litigation. Contact him at (415) 941-8665 or connect securely via Signal on abhiruproy.10 * * * Read Next * agoSustainabilitycategory First Brands seeks access to customer payments held up in bankruptcy First Brands products displayed for sale in Medford * agoSustainabilitycategory EU to scrap planned ban on combustion engines, EPP's Weber says New cars are seen parked in the port of Zeebrugge * ago Hongqi, Mao's national car, rejuvenates its brand and takes aim at overseas markets Auto Shanghai show in Shanghai * agoAutos & Transportationcategory Rivian shares surge as analysts cheer shift to custom self-driving chip, AI strategy Auto Show in Los Angeles begins * agoAutos & Transportationcategory Brazil to auction massive Santos container terminal in early March, minister says A drone view shows the port of Santos in Brazil * agoAutos & Transportationcategory SEAT says EU's rethink on 2035 combustion-engine ban could help EV transition SEAT and Cupra CEO Markus Haupt speaks during the inauguration of their battery assembly plant LSEG Workspace Business * Serie A - Juventus v Torino Crypto giant Tether tests Agnelli family resolve with all cash bid for Juventus Sportscategory * December 12, 2025 * 10:43 PM UTC * ago The Agnelli family has no intention of selling Juventus to crypto group Tether or anyone else, sources close to the family's holding company Exor said, after Tether bid for Italy's most historically successful soccer club. * Reuters logo categoryFMC to launch restructuring plan, targets plant closures and Asia cost cuts 10:24 PM UTC * Illustration shows Ticketmaster logo SustainabilitycategoryLive Nation, Ticketmaster must face sprawling class action over prices 10:01 PM UTC * Senate Select Intelligence Committee confirmation hearing on Capitol Hill in Washington SustainabilitycategoryBipartisan group of US lawmakers calls for export controls on synthetic DNA sequences 9:58 PM UTC * A person is seen inside an IndiGo airlines ticketing office at Chhatrapati Shivaji International airport in Mumbai categoryIndia's IndiGo estimates over $55 million payout to customers following flight cancellations 9:43 PM UTC Site Index Browse * World * Business * Markets * Sustainability * Legal * Breakingviews * Technology * Investigations * Sports * Science * Lifestyle About Reuters * About Reuters, opens new tab * Advertise with Us, opens new tab * Careers, opens new tab * Reuters News Agency, opens new tab * Brand Attribution Guidelines, opens new tab * Reuters and AI, opens new tab * Reuters Leadership, opens new tab * Reuters Fact Check * Reuters Diversity Report, opens new tab * Commercial Disclosure (Japan), opens new tab Stay Informed * Download the App (iOS), opens new tab * Download the App (Android), opens new tab * Newsletters * Subscribe Information you can trust Reuters, the news and media division of Thomson Reuters, is the world's largest multimedia news provider, reaching billions of people worldwide every day. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. Follow Us * * * * * * LSEG Products * Workspace, opens new tab Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. * Data Catalogue, opens new tab Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. * World-Check, opens new tab Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. * Advertise With Us, opens new tab * Advertising Guidelines * Purchase Licensing Rights, opens new tab * Cookies, opens new tab * Terms & Conditions * Privacy, opens new tab * Copyright, opens new tab * Digital Accessibility, opens new tab * Corrections * Data Disclosure and Sources, opens new tab * Site Feedback, opens new tab All quotes delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays. (c) 2025 Reuters. All rights reserved