Shares in EV maker Tesla (TSLA) reversed today as it suffered another European sales slowdown.
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According to new official industry data, sales of the company’s vehicles declined in France and Denmark for the seventh consecutive month.
Nordic Nightmare
Tesla, led by chief executive Elon Musk, registered 1,307 new cars in France last month, representing a 27% drop compared to July 2024. In Denmark, the decline was even steeper, with sales falling 52% to 336 vehicles. Model Y registrations specifically decreased by 49% in Denmark during July.
Tesla’s struggles extended to Sweden as well, where new car registrations plummeted 85.8% year-on-year to just 163 vehicles in July, based on data released today by Mobility Sweden.
The figures were down 83.3% from June’s total of 976 vehicles. In July, the Elon Musk-led company registered 117 Model Y units, 44 Model 3s, and one unit each of the Model S and Model X.
This is despite Tesla currently offering a 40,000 SEK trade-in bonus for customers purchasing a Model Y or Model 3 from July 18 to August 15, and taking delivery by August 30.
As can be seen below, the U.S. and China dominate Tesla sales, but Europe remains an important market.
Tesla Ecosystem
The news today builds on figures last week from the European Automobile Manufacturers’ Association (ACEA), which revealed that Tesla sold 70,655 vehicles in the European Union in the first half of 2025. That was down 43.7% year over year.
It continues a challenging year for Tesla whose sales worldwide have been hit by increased competition from rivals such as China’s BYD (BYDDY), concerns over its design appeal, threats to EV subsidies in the U.S. and a hit to its brand reputation by Musk’s on and very much off involvement with President Trump’s administration.
Not everyone is a Tesla doubter, however, with some analysts pointing to the overall strength of the Tesla ecosystem as a reason for optimism in the stock. Indeed, some see it as heading towards a staggering $10 trillion market value based on its innovations in human-like robots, self-driving and energy storage.
Is TSLA a Good Stock to Buy Now?
On TipRanks, TSLA has a Hold consensus based on 14 Buy, 15 Hold and 8 Sell ratings. Its highest price target is $500. TSLA stock’s consensus price target is $310.84, implying a 0.83% upside.
