Tesla Records Declining Sales in Europe in October

Tesla’s October performance across Europe painted a grim picture for the American automaker. Sales plummeted by 50% in Norway, 48% in the Netherlands, 86% in Denmark, and 89% in Sweden versus October 2023. Spain saw a 31% decline despite the country’s overall electric vehicle market jumping 119%. Only France managed a modest uptick, marking the second consecutive monthly gain there. 

Norway’s falling Tesla sales proved particularly telling. The Texas-based electric vehicle company had posted several months of growth in a market where nearly all new vehicles sold run on electricity, maintaining its position as the top automaker in Norway. That momentum evaporated in October. 

Tesla’s European sales had already fallen by 28.5% through September compared to the first nine months of 2024, signaling troubles that predate the latest monthly collapse. September offered brief hope with rising numbers across several markets, but October’s results suggest that uptick was temporary rather than sustained recovery. 

Chinese manufacturers capitalized on Tesla’s stumble with aggressive market penetration. BYD, Xpeng, and Geely’s Zeekr all outsold the American brand in Denmark during October. Spain’s numbers looked even worse for the best-selling automaker. Tesla’s 393 vehicles couldn’t compete with SAIC’s MG brand at 3,725 units, BYD’s 2,806 cars, or Chery’s Omoda and Jaecoo brands selling 1,433 and 974 respectively. Sweden saw Tesla move just 133 vehicles, trailing luxury competitor Porsche’s 172 units. Year-over-year Tesla sales in Sweden have now cratered by 67%. 

Industry observers point to Tesla’s aging lineup as a primary culprit for the sales erosion. Legacy manufacturers and Chinese rivals continue releasing fresh EV models while Tesla relies on vehicles that have been in production for years without significant updates. Ginny Buckley, CEO of Electrifying.com, noted that buyers now enjoy unprecedented choice from established brands and ambitious Chinese newcomers. Tesla no longer dominates a market it once owned completely. 

CEO Elon Musk’s political activities appear to be amplifying the decline beyond what product staleness alone would explain. His financial support for Donald Trump’s presidential campaign and endorsement of European far-right parties have triggered consumer backlash in markets that lean progressive. Research firm New AutoMotive found that mainstream brands like Fiat, Volvo, Suzuki, and Mazda saw 15-18% EU sales drops through September as they updated their offerings. Tesla’s 39% decline during the same period suggests something beyond typical product refresh challenges. 

Musk’s political factor looks like the difference between normal industry adjustment and Tesla’s declining European sales. While other automakers struggle with product transitions, Tesla faces the dual burden of aging models and a controversial figurehead whose public statements alienate potential buyers in the climate-conscious markets that are Tesla’s lifeblood. 

The decline of Tesla in Europe and other markets gives new players like Massimo Group (NASDAQ: MAMO) an opportunity to penetrate these markets and establish themselves as serious contenders in the race to dominate EV sales. 

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