Tesla’s global electric-vehicle market share climbed back above 18% in the fourth quarter after the refreshed Model Y entered customer hands, up from 15.2% in Q3. North American volume rose by 22%, driven by a 35% sequential increase in Model Y deliveries to 184,000 units. Meanwhile, manufacturing throughput at Gigafactory Shanghai surpassed 1.3 million vehicles on an annualized basis, marking a record monthly output of 62,000 cars in December.

Revisions to the U.S. federal EV tax credit expanded eligibility for Teslas built in North America, effectively lowering consumer purchase prices by up to $7,500. In Q4, this policy shift correlated with a 28% uptick in reservation activity on Tesla’s website, according to data released by the company. Federal Treasury filings indicate that more than 45,000 Model 3 and Model Y orders claimed the full credit, accounting for roughly one-quarter of U.S. deliveries in the period.

Despite intense competition and price cuts across the EV sector, Tesla reported an adjusted operating margin of 16.8% in Q4, one of the highest in the industry. Cash flow from operations totaled $4.1 billion, exceeding CapEx by $1.6 billion and lifting net cash to $22.7 billion. This financial strength enabled the company to maintain a consistent production run rate while investing $850 million in battery R&D and upgrading assembly lines at its Texas Gigafactory.

Berkshire Hathaway’s Pilot Travel Centers has committed to installing Tesla Semi chargers on key interstate corridors (I-5, I-10 and others) starting summer 2026. Each location will feature 4–8 stalls delivering up to 1.2 megawatts per charger, supporting Tesla’s planned volume production of the Semi in CY 2026. The deal underscores confidence in Tesla’s heavy-duty vehicle strategy and will expand its high-capacity charging footprint by an estimated 120 stalls within the first year.