Tesla's sales in major electric vehicle markets in Europe continue to decline. Despite strong overall demand for electric vehicles in the region, the American automaker is losing significant market share.
According to data released by the German Federal Motor Transport Authority on Wednesday, Tesla's new car registrations in Germany plummeted by 39% last month, with a cumulative decline of 56% in the first eight months of this year. This weak trend has also spread to other markets, with Tesla's sales in France, Belgium, Denmark, and Sweden also experiencing severe declines in August.
In stark contrast to the general downturn on the European continent, the Norwegian market has become Tesla's only bright spot. Last month, Tesla's registrations in Norway increased by 21%, with a cumulative increase of 26% so far this year.
However, growth in a single market is insufficient to reverse Tesla's global predicament. In the first half of this year, Tesla's global vehicle deliveries fell by 13%, and the company is on track for a second consecutive annual decline. Although U.S. consumers are expected to accelerate purchases this quarter to take advantage of federal tax credit policies before they expire, the ongoing weakness in the European and Chinese markets may limit this potential boost.
<h2>Germany Leads the Decline, Norway as the Only Bright Spot</h2>
The data from Germany, Europe's largest automotive market, is particularly striking. While the overall electric vehicle market is thriving, Tesla's sales performance has taken a sharp downturn. Data from the German Federal Motor Transport Authority shows that Tesla's new car registrations in August fell by 39% year-on-year, while the cumulative registrations from January to August plummeted by 56%. In addition to Germany, data from various national automotive associations indicates that Tesla's sales in France, Belgium, Denmark, and Sweden also saw significant shrinkage in August.
Amid the widespread decline in major European markets, Norway's performance stands out. As a traditional stronghold for Tesla, demand in Norway remains robust. Data shows that Tesla's registrations in Norway increased by 21% year-on-year in August, with a cumulative growth of 26% so far this year. This growth makes Norway one of the few safe havens for Tesla in the European landscape.
<h2>Declining Against the Trend, Tesla's Global Outlook Under Pressure</h2>
Tesla's sales decline sharply contrasts with the overall growth trend in the European electric vehicle market, directly reflecting that its market share is being eroded.
For instance, in Germany, where Tesla's sales plummeted by 39%, the overall industry registrations for battery electric vehicles (BEVs) surged by 46% in August. Across Europe, BEV sales grew by 26% in the first seven months of this year, while Tesla's sales fell by 40% during the same period, indicating a serious divergence from the mainstream market trend.
The challenges in the European market are part of Tesla's global difficulties. In the first half of this year, the company's global deliveries have already declined by 13%, facing the embarrassment of a second consecutive year of declining deliveries. Although analysts expect a short-term buying spree in the U.S. market due to the impending expiration of tax credit policies to boost this quarter's performance, the upper limit of this boost will be constrained by the performance in the European market. Additionally, Tesla's shipment volumes from its factory in China continue to decline, adding more uncertainty to the company's global growth outlook

TSLA

TSDD

TSLL

TSLQ

09366

07766

07366

TSLR

Tesla's new car registrations in Germany plummeted by 39% last month, with a cumulative decline of 56% in the first eight months of this year. Sales in France, Belgium, Denmark, and Sweden also recorded significant declines. The Norwegian market has become Tesla's only bright spot, with registrations in Norway increasing by 21% last month, bringing the cumulative increase for the year to 26%

- Tesla's sales in major European electric vehicle markets continue to decline, losing significant market share despite strong overall demand for electric vehicles in the region.  
- In Germany, new car registrations for Tesla fell by 39% in August, with a cumulative drop of 56% for the first eight months of the year, while sales also decreased sharply in France, Belgium, Denmark, and Sweden.  
- Conversely, Norway stands out as a bright spot, with Tesla registrations increasing by 21% in August and 26% year-to-date, but this single market growth is insufficient to offset Tesla's global challenges, including a 13% decline in global deliveries in the first half of the year.

Wallstreetcn

Tesla

GraniteShares 2x Short TSLA Daily ETF

Direxion Daily TSLA Bull 2X Shares

AXS TSLA Bear Daily ETF

XI2CSOPTSLA-U

XL2CSOPTSLA

XI2CSOPTSLA

GraniteShares 2x Long TSLA Daily ETF

Continue to "bleed," Tesla's sales in Europe have fallen across the board except for Norway