Tesla Motors (TSLA.US) Faces Eight Consecutive Months of Declining Sales in Some European Markets! Sweden August Registrations Plummet 84%

Stock News
09/01

Tesla Motors (TSLA.US) continues to report weak sales data in European markets, with some regions showing eight consecutive months of decline as the automaker struggles with CEO Elon Musk's aggressive political stance toward Europe, autonomous driving regulatory challenges, and intensifying competition in the electric vehicle market.

Data released Monday by Swedish automotive industry organization Mobility Sweden showed that Tesla Motors' vehicle registrations in Sweden plummeted 84% year-over-year in August, dropping from 1,348 units in the same period last year to 210 units.

Tesla Motors has shown weakness across European markets this year. According to data from the European Automobile Manufacturers' Association (ACEA), despite overall rising electric vehicle sales trends in Europe, Tesla Motors' July sales in Europe still fell 40% year-over-year to just 8,837 units, marking the seventh consecutive month of declining sales. Currently, Tesla Motors' August sales in some European markets remain weak, extending the decline to the eighth consecutive month.

France, Denmark, and Sweden were among the first European countries to release August monthly data, with vehicle registration figures showing that Tesla Motors' updated Model Y has had limited success in stopping the sales decline.

French data released Monday showed that new Tesla Motors vehicle registrations in August fell 47.3% compared to the same period in 2024, while France's overall automotive market grew nearly 2.2% during the same period. In Sweden, Tesla Motors vehicle registrations dropped more than 84% (while Swedish electric vehicle sales remained flat and the overall automotive market grew 6%); in Denmark, the figure declined 42%.

Norway is an exception, where Tesla Motors has deep roots and nearly all new car sales are electric vehicles. In August, the American electric vehicle manufacturer's registrations in Norway jumped 21.3%. However, its Chinese competitor BYD saw registrations surge 218% in Norway.

Tesla Motors' largest European markets are Germany and the United Kingdom, both of which have also seen sales declines this year, though August sales data has not yet been released.

In Tesla Motors' August Sweden sales, the Model Y accounted for the highest proportion with 141 registrations, followed by the Model 3 with 67 registrations. This performance pales in comparison to other automakers: Volvo achieved 2,718 registrations in August, up 8% year-over-year; Volkswagen recorded 2,614 registrations, up 19.3% year-over-year; Toyota (TM.US) had 2,245 registrations with a significant 35% year-over-year increase.

Tesla Motors' July European sales data already lagged behind Chinese electric vehicle competitor BYD, which was included in European market monthly sales data for the first time. European electric vehicle statistics show that under July's European monthly statistical scope (including EU+UK+EFTA), BYD's European market share of 1.2% exceeded Tesla Motors' approximately 0.8%, making BYD the market share leader over Tesla Motors that month.

Despite significant improvements to the iconic global Model Y, Tesla Motors still saw substantial declines in new vehicle registrations across multiple key European markets in July.

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