In November, Tesla’s new vehicle registrations in several vital European regions significantly decreased compared to the same month last year as the American electric vehicle manufacturer faced ongoing difficulties in retaining its market presence, even after introducing updated versions of its top selling Model Y. Nevertheless, Norway defied this downturn with unprecedented sales during the month. As Tesla’s inaugural market beyond North America over ten years ago, it has become the company’s second-largest European market after the United Kingdom this year.
Data indicated that monthly registrations, which serve as an indicator of sales, fell by 58% in France to 1,593 units, by 59% to 1,466 units in Sweden, by 49% to 534 units in Denmark, by 44% in the Netherlands to 1,627 units, and by 9% in Spain to 1,523 units.
Conversely, in Norway, registrations nearly tripled to 6,215 units, surpassing the nation’s annual sales record with one month remaining in the year.
Its overall market share across Europe dropped to 1.6% during January to October, down from 2.4% during the same timeframe the previous year.
On Monday, shares of Tesla listed on Nasdaq fell by 1.4% during pre-market trading.
The decline in Tesla’s European performance started in late 2022 after CEO Elon Musk made public comments praising right-leaning political leaders, which sparked protests throughout the region. In November, there was a significant fire at a Tesla dealership in southern France, leading local authorities to initiate a criminal investigation, as reported by local news outlets.
Musk has lessened his political remarks after resigning from the U.S. Department of Government Efficiency, yet Tesla’s operations in Europe have not bounced back.
