Tesla’s new-car registrations rose sharply across several European markets in October, extending a recovery, though performance diverged widely between countries and Chinese brands continued to take share.
Tesla registrations rose 248 per cent year on year in Sweden, 131 per cent in Norway and 34 per cent in Denmark, according to data from Mobility Sweden, Norway’s OFV and Denmark’s bilstatistik.dk.
Data from Spain’s ANFAC, Portugal’s ACAP and the Italian transport ministry showed gains of 271 per cent in Spain, 186 per cent in Portugal and 94 per cent in Italy.
The rebound was helped by a weak base in the same month last year, higher fuel prices, government incentives and continued growth in electric demand. The pace of recovery differs sharply by country, and the competitive field is widening as Chinese brands expand.
Tesla remains one of Europe’s main electric brands, but its line-up depends on the Model 3 and Model Y, leaving it exposed to competitors with broader ranges. Tesla said in October that its passenger-car order backlog at the end of the third quarter was the highest in four years.
Norway rewards the winner and the newcomers
Norway remains Tesla’s strongest European market. OFV data showed Tesla’s best month on record there, making it the country’s best-selling brand with a 9.8 per cent share.
Chinese brands also gained. They accounted for 22.5 per cent of new passenger-car registrations in Norway in October, a record monthly high.
Rico Luman, senior economist at ING Research, said Norwegian consumers have stronger purchasing power than elsewhere in Europe, which keeps demand for low-priced Chinese models relatively contained.
Where the share actually went
In Denmark, Tesla’s share was only 0.73 per cent, below BYD, Leapmotor, XPeng and SAIC’s MG, whose shares ranged from 1.6 to 5.5 per cent.
Italy showed a similar pattern. Tesla’s share rose to 0.38 per cent but stayed below BYD, Leapmotor and MG, which held between 1.21 and 4.55 per cent.
Felipe Munoz, who runs the Car Industry Analysis platform, told Reuters that Nordic markets are open to newcomers that can deliver efficient electric cars. That openness helped Tesla build its lead, and it is now helping Chinese brands take share at speed.
The lesson for Tesla is uncomfortable. Volume growth in a market that is itself growing does not prove competitive strength, and the places where it is winning on share are the places where its product range still matches local expectations.
Editor’s note: This is an adapted translation of the original Gasgoo report. It has been trimmed and restructured for readability for an international business audience. The full original (in Chinese) is at https://auto.gasgoo.com/news/202611/3I70476776C101.shtml.