Tesla (NASDAQ:TSLA) is feeling the pressure in Scandinavia and France, with sales plunging between 42% and 48% in Sweden, Norway, and Denmark. In France, registrations have dropped 45% in the first two months of 2025 compared to the same time last year, signaling a major loss of market share.
The shift is especially clear in Norway, where nearly all new cars are electric. Tesla, once the leader, has seen its market share fall to 8.8% this year, down from 18.9% in 2024.
A big reason for the drop? Volkswagen (VWAGY) and Toyota (NYSE:TM) are rolling out new EV models, pulling in buyers who might have chosen Tesla before. At the same time, Elon Musk's political controversies in Europe have led to boycotts and protests, hurting Tesla's brand image.
Experts aren't sure if Tesla can bounce back, but the upcoming launch of the redesigned Model Y could give the company a chance to regain momentum.
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