Tesla sales slump continues across key European markets

(Sharecast News) - Tesla sales dropped sharply across a number of large European markets in November as Elon Musk's electric car company continues to battle against a backlash against its controversial founder. New registrations of Tesla vehicles were significantly lower than last year across the Netherlands (-44%), France (-58%), Sweden (59%) and Denmark (-49%), while slipping 9% in Spain.

In sharp contrast, sales in Norway almost trebled as the wider car sales market posted 70% growth, with investors panic-buying ahead of a planned increase in EV taxes in 2026.

Nevertheless, the company's European market share was just 1.6% over the January to October period, down from 2.4% a year earlier.

Musk's endorsement of right-wing political figures across the continent is thought to be a major reason behind the brand's drop in popularity, along with his well-publicised position at the US Department of Government Efficiency.

Meanwhile, strong demand for cars of cheaper Chinese companies have also lessened the appeal, with prominent EV group BYD currently experiencing a sales surge across Europe.

In the UK, Tesla's largest European market which accounts for nearly a quarter of continental sales, new registrations slumped 51% year-on-year in October.