Tesla's sales debacle continues in certain European markets

Tesla's sales debacle continues in certain European markets

The company has not released a new mass-market model since 2020

Amidst fierce competition from China's BYD and a backlash against Elon Musk, the CEO of Tesla, the company's sales rout in several European markets continued in August.

Data showed that registration of new Tesla cars in France declined 47.3 percent since August 2024, while the overall car market grew nearly 2.2 percent. However, the trend was resisted by Norway, Spain and Portugal.

Tesla has deep roots in Norway and almost all new car sales are electric. It saw a 21.3 percent jump in registration for the US EV maker. However, BYD's registrations jumped 218 percent.

Tesla registrations fell more than 84 percent in Sweden, where electric vehicle (EV) sales were flat and the overall market rose 6 percent and dropped 42 percent in Denmark. Its registration was down by 50 percent in the Netherlands and 4.4 percent in Italy.

Tesla has a small lineup and has not released a new mass-market model since the Model Y in 2020.

On the other hand, its Chinese rivals and traditional automakers are flooding the market with fresh models.