Tesla is set to report its Q4 2025 results after the market close on Wednesday, with Wall Street analysts projecting earnings per share of $0.45 and revenue of $24.79 billion. This would mark the third consecutive year-over-year revenue decline for the quarter, down 3.6% from $25.7 billion in Q4 2024, and the full-year revenue is expected to drop to roughly $95 billion, a 2.8% slide from 2024—the first annual sales decline in company history. In December, vehicle deliveries plunged 16% year-over-year, while full-year deliveries fell 8.6%, underscoring persistent demand headwinds in key markets.

Tesla’s registrations across Europe, including the EU, UK and EFTA states, fell 27% in 2025 to 238,656 units, according to ACEA data, as local rivals and Chinese entrants gain traction. In December alone Tesla sold 35,280 vehicles in the region, down 20.2% from a year earlier. By contrast, BYD’s European volume surged 267% to 187,657 units over the same period. Legacy automakers are also ramping up EV launches, and high borrowing costs have dampened consumer sentiment, contributing to Tesla’s weakest continental performance in four years.

With core EV growth under pressure, CEO Elon Musk is steering investor focus toward Tesla’s nascent Robotaxi ride-hailing service and Optimus humanoid robots. A pilot Robotaxi fleet in Austin has recently begun driverless passenger rides by removing human safety supervisors, while the company prepares to expand the program. On the upcoming earnings call, investors will scrutinize plans for a Transport-As-A-Service ecosystem, capital expenditure guidance—FactSet analysts forecast capex rising to $11 billion in 2026 from $9.5 billion in 2025—and progress on Tesla’s in-house AI chip development in partnership with Samsung and TSMC.

Tesla ended 2025 with a robust cash position but faces choices between scaling its charging network, accelerating the Semi and Cybertruck production ramps, and funding robotaxi infrastructure. On the Say Technologies forum, the top-voted investor questions revolve around the timeline for driverless service expansion, Full Self-Driving software rollout, and potential special-purpose fundraising tied to Musk’s other ventures, including SpaceX and xAI. Analysts will be watching guidance for R&D and service-capex as a barometer of Tesla’s commitment to its next-generation mobility ambitions.