NEW YORK, Jan 3, 2026, 18:54 ET
- Tesla reported Q4 2025 deliveries of 418,227 vehicles and record quarterly energy storage deployments of 14.2 GWh.
- Tesla’s deliveries fell short of analyst expectations and the company lost the top EV maker title to China’s BYD.
- Stifel paid another $850,000 to settle a customer arbitration claim tied to structured notes sold by ex-broker Chuck Roberts.
Tesla said it delivered 418,227 vehicles in the fourth quarter of 2025 and 1,636,129 vehicles in 2025, while producing 434,358 vehicles in the quarter. The company also deployed 14.2 gigawatt-hours of energy storage products, a record, and set its quarterly results for Jan. 28.
Investors treat Tesla’s delivery figures as one of the clearest snapshots of demand because the company does not publish monthly sales. The update lands weeks before Tesla’s earnings report, when it typically provides more detail on pricing, margins and outlook.
Tesla lost its crown as the world’s top electric-vehicle maker to China’s BYD after annual sales fell for a second year, with competition and the end of U.S. EV tax credits weighing on demand. Deliveries in the October-December quarter fell 15.6% from a year earlier and came in below the 434,487 vehicles analysts expected, while U.S. EVs made up 6.2% of retail vehicle sales in the quarter, J.D. Power data showed. Tesla shares were down about 2% in afternoon trading, and trader Dennis Dick at Triple D Trading said: “It’s about Optimus, Robotaxi and physical AI.” Reuters
Tesla’s Model 3 and Model Y accounted for most of its fourth-quarter deliveries, with other models making up a small share. Tesla groups multiple vehicle lines into an “other models” category rather than breaking out model-by-model data.
Tesla said energy storage deployments for 2025 totaled 46.7 GWh, underscoring the growth of its battery business. A gigawatt-hour is a measure of energy equal to one billion watt-hours.
Tesla cautioned that deliveries and storage deployments are only two measures of performance and do not predict quarterly profit. The company said it would publish full financial results after market close on Jan. 28 and hold a webcast at 5:30 p.m. Eastern.
Stifel Financial paid another $850,000 to settle a customer arbitration claim tied to structured notes sold by former broker Chuck Roberts, according to BrokerCheck disclosures. Stifel has paid nearly $182 million in awards and settlements related to Roberts and faces 23 pending arbitration cases, after a Financial Industry Regulatory Authority panel awarded customers nearly $133 million in March 2025; Stifel has asked a court to vacate, or set aside, the award. Roberts was barred from the industry in July 2025, and a Stifel spokeswoman did not return a request for comment.
Structured notes are debt securities whose payoff is linked to an underlying asset such as a stock, index or basket of securities. They can be marketed as tailored income products, but small market moves can translate into outsized gains or losses.
FINRA, the industry’s self-regulator, runs an arbitration system where investors can bring claims against brokerages. BrokerCheck is FINRA’s public database that lists broker and firm registrations and many customer disputes.
The Stifel disputes highlight the legal risk brokerages face when they sell complex products to retail clients. Settlements and arbitration awards can pile up quickly when customers allege they did not understand the risks or the products were unsuitable.
For Tesla, investors are watching whether demand stabilizes after incentives rolled off and competition intensified, particularly in Europe. They are also weighing the company’s longer-term push into self-driving technology and robotics against near-term pressure in its core auto business.
For Stifel, the next checkpoints include court action on the $133 million award and the outcome of the pending arbitration claims.
