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Fortune
Fortune
Christiaan Hetzner

Tesla’s largest EV plant in the world suffers eighth straight month of declining demand in May

Elon Musk looks on during a news conference with US President Donald Trump in the Oval Office of the White House in Washington, DC, on May 30, 2025. (Credit: Allison Robbert—AFP via Getty Images)
  • Outbound volumes from Tesla’s GigaShangai factory, which includes exports, sank 15% in May. The drop follows similarly bleak figures out of most of Europe. Although Tesla is increasingly viewed as an AI company, roughly three-fourths of its revenue and gross profit come from selling cars.

With two-thirds of the second quarter now in the books, the chance Tesla’s EV sales could rebound from its terrible start to the year is swiftly waning. 

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