And o ne trend that's especially worth watching is what's happening in China, which makes up more than a third of Tesla's global sales. In China, which leads the world in total all-electric and hybrid sales, Tesla dropped 11.5% in January .

California is the biggest market for electric vehicles in the U.S. and by a wide margin, accounting for nearly 35 percent of all EV sales nationwide. Therefore, declining sales in the state could spell trouble for Tesla, which reported its first-ever annual decline in deliveries in 2024.