Tesla's new registrations plummet in European markets in November

Tesla registrations in several key European markets plunged in November from a year earlier as the US EV maker continued to struggle to stem market share losses despite rolling out new versions of its bestselling Model Y.

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Elon Musk's brand however sold more cars in Norway and Italy than in November last year, partly offsetting losses elsewhere.

Monthly registrations, a proxy for sales, slumped by 588 in France to 1,593 vehicles sold, by 59% to 1,466 cars in Sweden, by 49% to 534 cars in Denmark, by 448 in the Netherlands to 1,627, by 47% in Portugal to 425, and by 9% in Spain to 1,523, official data showed.

However in Norway, they almost trebled to 6,215 cars, beating the country's annual sales record with one month to spare. Registrations in Italy jumped by 588 to 1,281, but remain down 28% year-to-date.

Tesla's overall market share in Europe dipped to 1.6% in January-October from 2.4% a year earlier, highlighting a downward trend for the brand whose signature Model Y SUV was Europe's and the world’s bestselling model as recently as 2023.

The company’s slowdown in Europe began late last year after its CEO Musk publicly praised right-wing political figures, setting off protests across the region.

In November, a large fire at a Tesla dealership in Southern France prompted investigators to launch a criminal probe, local media reported.

Musk has toned down political commentary since stepping down from the US Department of Government Efficiency, but Tesla’s European business has not recovered.