$TSLA lost its crown

Forbes recently posted about how Tesla is no longer the world’s biggest EV maker. That’s a pretty big shift when you think about how dominant Tesla was just a few years ago. In 2025, the company was passed in total EV sales by competitors, most notably BYD. At the same time, Tesla’s own deliveries slipped year over year, while other manufacturers kept scaling, cutting prices, and expanding internationally. You can really see it overseas. In Europe, Tesla registrations dropped hard in several key markets, including a roughly 29 percent decline in the UK. Meanwhile, other brands are filling that gap. It feels less like EV demand is disappearing and more like buyers simply have more choices now, and Tesla is no longer the default option. What stands out to me: * Tesla losing the EV volume crown * Market share sliding in important regions * Pricing pressure becoming harder to ignore * The story shifting away from pure vehicle growth None of this means Tesla is suddenly broken. But it does change the narrative. Tesla is no longer the clear runaway leader in EVs. It’s now competing in a crowded, fast-moving market where execution and margins matter more than hype. Going into earnings, this is worth keeping in mind. The stock doesn’t live or die on EV sales alone anymore, but it’s hard to ignore that losing the top spot changes how people think about the company. Not an immediate catalyst, but definitely something to watch. Disclaimer: This is not financial advice. Please do your own research.