Yes that and maybe competition coming in offering different products? Outside of USA, BYD is outflanking Tesla in both products and price.

Yeah mostly but isn’t that the whole reason early reservations collapsed? An expectation of an affordable price and then the goalposts get moved.   Imagine if that sort of thing happened with an ICE vehicle…..

Canada Agrees with you.

They would sold 10's of them....

According to AI it was bigger but the biggest part was the "radical" styling compared to the previous gen....pundits bemoaned that it would drive people to the competition, but it did not. As stated, this isn't Fords first rodeo with F150 styling and execution of directional changes.     

Well, Tesla sales are also affected by the "Musk affect" aside from the credits, which hit sooner than the credits expiring.    

Yes, registration (in some states) is less expensive for the lower GVWR I believe (maybe insurance purposes too), but you can also spec out an F350 with the lower GVWR.  It's nothing but a piece of paper.   Here in MO, what matters is the weight limit on your license plate.  My F350 is licensed for 24k lbs. GCWR, and that's what I pay registration on.

In other words, the real demand.  They weren't just buying EVs they were buying something cheap(er).

It's not a game it's called being fiscally responsible.   Luckily they have plenty of unused capacity at TTP now so nothing needs to be killed. 

Without government money, the appeal of purchasing a BEV has dropped for many potential buyers. Tesla’s US sales decline is actually over the second half of 2025, so something is definitely going on…    Quite a few of the larger dealerships were stuffed with all kinds vehicles over the Christmas period  so I’m thinking that those dealerships have bigger problems than selling electric vehicles. Remember, companies like Ford register “sales” as when delivered to dealerships, not sold to buyers. So the big question will be if ther’s an accentuated slowing of all sales in Q1 or if bigger incentives are coming.