Tesla's sales significantly declined in multiple European countries last year

According to a report by Reuters, despite launching cheaper versions of the Model Y and Model 3, Tesla (TSLA.US) still saw a significant decline in sales across multiple European countries last year.

The report indicated that last Friday (2nd), sales data from 8 European countries was released, which accounted for over half of Tesla's sales in Europe, showing an approximate year-on-year decline of 25%.

In France, sales fell by 37% year-on-year, while in Sweden, sales dropped by 70%. In Portugal, Spain, and Belgium, sales also decreased by 22%, 4%, and 53% year-on-year, respectively. In Italy and Switzerland, sales fell by 18% and 28% year-on-year, respectively. However, in Norway, sales increased by 89% year-on-year last month, benefiting from the fact that nearly all new car sales in the country were electric vehicles.

The European Automobile Manufacturers Association (ACEA) will release the full-year sales data for Europe later this month