Tesla (TSLA) is facing one of its sharpest sales declines of the year across Europe, as demand continues to falter despite broader EV market growth.
In Sweden, Tesla registered only 133 new vehicles in October, a nearly 89% drop from a year earlier, according to the nation’s auto manufacturers’ association. Sales also plunged 50.2% in Norway, 47.8% in the Netherlands, and 30.6% in Spain. The only exception was France, where registrations rose 2.4%, though that comes off a steep 47% decline a year ago. The automaker’s registrations are down 30% year-to-date.
While Tesla reported record Q3 sales globally—driven by U.S. buyers rushing to capture expiring $7,500 EV tax credits—its European business remains weak, weighed down by an aging lineup and backlash over Elon Musk’s political involvement, including his role in the Trump administration.
Tesla attributed earlier softness to the Model Y production transition, but even after rolling out the refreshed version, momentum hasn’t recovered. In Germany, Europe’s largest EV market, battery-electric vehicle sales jumped 38% in the first nine months through September, yet Tesla’s registrations fell 50% in the same timeframe, underscoring the company’s deepening slump in the region.
TSLA shares were up 2.7% at press time.