Tesla’s European Woes Deepen As November Registrations Decline 20% In Germany

• Tesla’s new registrations from January to November slumped more than 48% to 17,358.
• The EV giant’s new vehicle registrations in November fell in France and Denmark, but more than doubled in Norway.
• Meanwhile, BYD saw 4,026 new registrations in November, marking a staggering 834% increase over last year.

Tesla Inc.’s (TSLA) European woes deepened after data from Germany showed a 20% year-on-year drop in registrations in November, even as the broader battery-electric vehicle (BEV) market saw a strong upswing.

A total of 1,763 new registrations were recorded in November, representing 0.7% of the German passenger car market. In contrast, new BEV registrations surged 58.5% in November to 55,741 units.

From January to November, the decline has been even more stark. New registrations during the period slumped more than 48% to 17,358.

By comparison, BYD saw 4,026 new registrations, a staggering 834% increase over last year.  The Chinese EV giant took up 1.6% of the total market share in November. BYD’s year-to-date new registrations stood at 19,197.

Tesla’s Bumpy Euro Ride

Tesla European momentum weakened further in November, with sharp drops in key markets. French registrations fell 58% year-over-year to 1,593 vehicles, while Denmark saw a 49% decline to 534 units. The Model Y, once Denmark’s top seller, slipped to 23rd place with only 206 units registered. Although Model 3 sales rose 29% in the country, Model Y volumes plunged 74%.

These setbacks extend what has already been a challenging year for Tesla in Europe, where overall sales have declined roughly 30% through October.

However, Norway proved to be a bright spot for Tesla, with registrations jumping 175% to 6,215 vehicles in November, as buyers rushed to beat an EV tax increase from January.

China-Made Sales Increase

Tesla’s China-made EV sales climbed 10% year-on-year in November, rebounding after a drop in October. CnEVPost had reported that Tesla sold 86,700 China-made vehicles last month, up from 78,856 a year earlier.

The company manufactures the Model 3 and Model Y at its Gigafactory Shanghai, supplying both local and foreign markets.

Retail sentiment on Stocktwits remained in the ‘bullish’ territory for the past 24 hours. TSLA stock was up 1.6% and has gained 10% so far this year.

Read also: Delta Warns Of $200 Million Q4 Profit Hit From 6-Week Government Shutdown

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