If you like both electric vehicles and emotional roller coasters, 2025 was an excellent year. However, for those of us whose nerves are already sufficiently frazzled, the highs and lows of the last 12 months were a bit hard to stomach.
In 2025, we saw the introduction of new, compelling models like the Lucid Gravity and refreshed Nissan Leaf, the latter available at a price on par with its internally combusted competition. From a product availability standpoint, 2025 was the year the EV market started feeling more mature and less manic.
But 2025 also saw new heights of anti-EV vitriol stirred up during a particularly traumatic election cycle. The means of propulsion or badge on the hood of your commuter machine suddenly became an indicator of your political affiliations. Put simply, the car you drive is now a political statement, and it’s the latest unprecedented situation in an exhaustingly long and dire string of unprecedented situations. Yes, it's been a long year, and the pessimism of 2025 will surely carry us well into 2026, but not all hope is lost for EVs.
Tesla and the DOGE effect
Elon Musk flashes his T-shirt that reads "DOGE" to the media as he walks on South Lawn of the White House, in Washington, March 9, 2025. (ASSOCIATED PRESS)
We've certainly seen some civic-minded CEOs in the past as auto executives have a long history of mixing their corporate interests with their political panderings. Chrysler CEO Lee Iacocca was even considered a potential presidential candidate once upon a time. However, we have never seen the kind of ass kissing and cronyism we were privy to in this year's fickle friendship between Elon Musk and President Trump.
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Musk was (hyper) active on the Trump campaign trail, and wasted no time digging into what he described as government overspending. While the Department of Government Efficiency's efficacy is debatable, it certainly proved quite effective at decimating the accounts of Tesla investors. Between January and March, Tesla's stock price dropped by nearly half. Things didn't turn around until Musk left DOGE in May.
Since then, Tesla's price has returned to its highs before the DOGE debacle. Its sales, however, have not. Q1 deliveries declined by 13 percent, then 14 percent in Q2. Deliveries bounced back 7 percent in Q3 as everyone scrambled to buy before the EV credits expired, but profits plunged 37 percent. Tesla's market share in the US electric vehicle space has halved, leading perennial pitchman Musk to start hawking everything from AI agents to spandex-clad robots — anything to distract from the numbers.
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