Tesla's dominance in Europe has been under pressure for a while, but few expected just how steep the drop would be in one of its most loyal markets. In Norway, long considered Tesla's European stronghold, the company faced growing competition from Chinese rivals and legacy brands.
8 percent of new car sales. This marks an 88 percent decline compared to the same period last year.
3 leading the pack. Despite Tesla's stumble, the Norwegian EV market remains overwhelmingly electric, with a staggering 94 percent of all new vehicles sold being EVs.
However, Tesla did experience a bump in sales in certain European markets, including Spain, Italy, Sweden, and Denmark. The company has introduced newly available, affordable, and stripped-out versions of the Model 3 and Model Y to breathe new life into its aging lineup.
Nevertheless, Tesla's European picture remains mixed, with significant losses in key markets such as France, Belgium, and the Netherlands. A growing number of Chinese brands are launching several new models in Europe, and BYD will start mass production at its plant in Szeged, Hungary, allowing it to sell EVs tariff-free in the region.
Tesla's struggles in Norway highlight the importance of adapting to changing market trends and consumer preferences. The company must continue to innovate and improve its products to remain competitive in the rapidly evolving electric vehicle landscape.
