November new car registration data for Europe is out, Tesla While the company suffered a major setback in its core markets, Norway bucked the trend and broke its annual record a month ahead of schedule, becoming a rare bright spot for the company in Europe.
The latest official statistics show that this leading American electric vehicle manufacturer saw its registrations in France, Sweden, and Denmark plummet by 58%, 59%, and 49% year-on-year in November, respectively. New car registrations typically reflect sales performance.
In contrast, Norway's November registrations nearly tripled to 6,215 vehicles, breaking the country's annual sales record a month ahead of schedule.
Tesla 's slump in Europe began at the end of last year when CEO Elon Musk publicly praised right-wing politicians, sparking protests in many parts of Europe.
This month, another Tesla showroom in southern France was set on fire, prompting a criminal investigation by police and further damaging the brand's reputation. Although Musk subsequently toned down his political rhetoric, sales have not stopped falling, highlighting the structural difficulties facing its European operations.
Analysts point out that Tesla They are under pressure in the increasingly competitive European market, especially from new competitors from Chinese brands, coupled with an aging product line.
Consumer sentiment is also weakening. A survey of more than 2,000 respondents in five major European car markets by data analytics and consulting firm Escalent found that 38% of consumers believe Tesla 's novelty has worn off and that it lags behind its competitors in terms of design, quality, and emotional appeal.
This year, Musk has devoted a great deal of energy to American politics and robotics. The research and development efforts and the $1 trillion compensation package have also disappointed many consumers.
In an attempt to reverse its declining fortunes, Tesla unveiled the new Model Y at the beginning of the year and promised an entry-level version priced at €40,000 in the German market. However, by the end of November, only a "small number" of new cars had arrived at European ports, proving insufficient to address the immediate crisis.
In Norway, driven by its main model, the Model Y, Tesla's sales have increased by 34.6% so far this year.
Tesla registered 6,215 new vehicles in Norway in November, bringing its total registrations from January to November this year to 28,606, surpassing Volkswagen's record of 26,575 vehicles for the entire year of 2016.
Analysts say that due to the Norwegian government's plan to raise taxes on electric vehicles starting in January, consumers rushed to buy cars in November, causing national car sales to surge by 70% year-on-year, with Tesla's monthly sales almost tripling year-on-year.
Registration data shows that pure electric vehicles accounted for 97.6% of new car registrations in November, which is consistent with Norway's long-standing national goal of completely ending the sale of gasoline and diesel vehicles by 2025.
Visible Alpha's forecast indicates that Tesla's global deliveries are expected to decline by 7% this year; while European sales had already fallen by about 30% by October and continued to decline in November.
(Article source: CLS)
