Bailey continued, pointing out how Tesla’s line-up remains “limited and dated” and how it has “failed to bring a small mass market car to market”. In response to similar criticisms and to try and reinvigorate sales, Tesla recently introduced the new, lower-priced ‘Standard’ version of the Tesla Model Y. However, slowing consumer interest in electric cars may make this difficult.
Following legislation signed by President Donald Trump, tax credits for electric cars in the United States ended in September 2025, effectively making EVs more expensive to buy and thus less appealing for Americans. Those who would have otherwise considered an EV – typically those on the left-leaning side of the political spectrum – may also be put off Tesla as a brand given Musk’s politics and his affiliation with Trump, despite the pair’s highly-publicised spats.
On this side of the pond, while Keir Starmer’s Labour Government has introduced the Electric Car Grant to make buying an EV more affordable, none of Tesla’s cars qualifies, making rival models more cost-effective. Chancellor Rachel Reeves’ announcement of a pay-per-mile tax coming in 2028 is also likely to have the effect of dissuading many prospective EV buyers in general.
If you are still willing to reap the other benefits of EV ownership, the Auto Express Buy a Car service has all the best deals from all the top electric car brands. Our Sell Your Car service will help you get the best price for your old vehicle, too.
Regardless, Tesla’s announcement doesn’t come as too much of a surprise; just two days before it confirmed its official Q4 results, estimates from analysts forecast the poor performance. Despite this analysis causing a dip in stock price, this remains relatively high given investor confidence in the firm’s Robotaxi and AI operations, as well as the profitability of the company as a whole.
In the meantime, drivers may soon see some of these Robotaxis cropping up on UK streets, as self-driving Teslas are rumoured to be coming to London in 2026. Last summer, Tesla posted a video of a Model Y using the firm’s Full Self Driving (Assisted) software navigating the infamous Magic Roundabout in Swindon, suggesting the EV brand is prepping its autonomous fleet for the UK’s notoriously complex roads.
Bowled over by BYD’s cars? Check out the latest deals with our Buy a Car service…
