Tesla Registrations Slumped Nearly 19% In EU In September Despite Rising EV Demand

• Tesla car registrations in the EU slumped 18.6% in September to 25,656 units. 
• The dip is despite a 20% increase in battery-electric vehicle registrations in the geography during the month to 167,586 units.
• Tesla’s biggest rival, Chinese EV maker BYD, saw registrations rise 272% in September in the EU. 
   

Tesla Inc.’s (TSLA ) car registrations in the European Union (EU) slumped 18.6% in September to 25,656 units, according to data from the European Automobile Manufacturers’ Association (ACEA).

The dip comes despite a 20% increase in battery-electric vehicle registrations across brands in the geography during the month to 167,586 units, thanks to a rise in demand in Denmark, Germany, and France.

Tesla’s Falling Demand

From the start of the year until September-end, 111,328 Tesla cars were registered in the EU, marking a year-on-year drop of about 39%. This is despite a 24% increase in overall battery-electric vehicle registrations in the time frame. Tesla’s market share subsequently fell to 1.4% from 2.3% in the corresponding period of 2024.

Across the European Union, European Free Trade Association (EFTA), and the U.K., Tesla registrations fell 10.5% in September to 39,837 units and by 28.5% in the nine months through the end of September to 173,694 units.

Rival’s Performance

Meanwhile, Tesla’s biggest rival and Chinese EV maker BYD witnessed registrations rise 272% in September in the EU to 13,221 units and by 398% across the EU, EFTA, and the U.K. to 24,963 units.

German automaker Volkswagen topped registrations in the EU overall in September with 241,368 vehicles registered across fuel types. Stellantis followed at a distant second with 133,305 vehicles registered and a 15% market share.

Impact On Tesla’s Global Delivery Numbers

Despite the slump in registrations in the EU in the last month of the third quarter (Q3), Tesla reported earlier in October that it delivered 497,099 vehicles globally in Q3, marking a year-over-year growth of 7.4% and its highest quarterly deliveries to date.

The increase in delivery numbers was likely spurred by U.S. customers rushing to make EV purchases before the federal tax credit expired on September 30.

How Did Stocktwits Users React?

On Stocktwits, retail sentiment around TSLA stock stayed within the ‘bullish’ territory over the past 24 hours, while message volume stayed at ‘high’ levels.

TSLA stock is up by 12% this year and by about 72% over the past 12 months. 

Read also: Nio Reportedly Sold Over 10,000 Vehicles For Two Consecutive Weeks

For updates and corrections, email newsroom[at]stocktwits[dot]com.

Share

·

Add us on