Tesla Sales Slide in Nordic Nations
Electric Vehicle Maker Faces Headwinds in Key Markets
Tesla’s sales have dipped for the sixth consecutive month in Sweden and Denmark, indicating challenges for the electric vehicle manufacturer in a region known for its embrace of EVs.
Falling Registrations in Scandinavia
June saw a further decline in new Tesla car registrations in Sweden and Denmark, underscoring the difficulties the American EV producer faces. The popularity of Chief Executive Elon Musk may also be a factor, according to reports.
New Tesla car registrations in Sweden plummeted by 64.4% year-over-year in June, totaling 976 vehicles. Data from Mobility Sweden revealed these figures. Moreover, Denmark saw a 61.57% annual drop, with 1,282 EVs registered, as reported by Mobility Denmark. The Model Y, Tesla’s most popular vehicle, experienced a 31.2% sales decrease last month in Denmark, with 1,155 units sold.
The company’s shares listed on the Frankfurt Stock Exchange declined by 5.6% on Tuesday morning. Tesla sales on the European market went down for the fifth consecutive month.
“Tesla sales on the European market decreased in May for the fifth consecutive month, clients preferring cheaper electric vehicles, and, in some cases, protesting the policies of Chief Tesla, Elon Musk.”
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Tesla’s market share in Europe decreased to just 1.2% in May, compared to 1.8% a year earlier. The shift away from Tesla is happening as consumers increasingly consider more affordable EV options (ACEA 2024).
