Tesla’s annual profit plunged to its lowest level since the pandemic as it ceded the title of the world’s biggest electric vehicle maker to a Chinese rival and boycotts hammered sales
ByBERNARD CONDON AP business writer
January 28, 2026, 4: 37 PM
NEW YORK — Tesla’s annual profit plunged to its lowest level since the pandemic five years ago as it ceded the title of the world’s biggest electric vehicle maker to a Chinese rival and boycotts hammered sales.
The EV company run by Elon Musk reported Wednesday that net income last year dropped 46% to $3.8 billion. It was the second year in a row with a steep drop in profit. The decline came des