Tesla (TSLA.US) Sees November Registrations Halved in France and Denmark Amid European Market Struggles

Stock News
Dec 01

Official data reveals that Tesla's monthly registrations—a proxy for sales—in France and Denmark dropped by half year-over-year in November. Despite launching its popular Model Y series, the electric vehicle maker continues to lose market share in Europe.

In France, Tesla's registrations plunged 58% to 1,593 units, while Denmark saw a 49% decline to 534 units. The Model Y ranked as Denmark's 23rd most popular model with just 206 units sold.

Tesla's slowdown in Europe began late last year when CEO Elon Musk publicly endorsed right-wing political figures, triggering widespread backlash. Although Musk has remained politically quiet recently, Tesla's European operations show no signs of recovery, pointing to deeper challenges.

Analysts note intensifying competition in Europe, particularly from new Chinese rivals, while Tesla's aging lineup further hampers growth. Despite Musk focusing much of this year on robotics and securing shareholder approval for his new compensation package, Tesla attempted to regain consumer interest with a refreshed Model Y earlier this year.

In October, Tesla introduced lower-priced versions of its flagship Model Y SUV and Model 3 sedan, though the latter remains unavailable in Europe.

According to Bilstatistik.dk, Scandinavia's largest auto database, Model 3 registrations in Denmark rose 29% to 326 units in November, making it the country's eighth best-selling model. Meanwhile, Mobility Denmark reported a 74% crash in Model Y registrations.

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