Tesla’s TSLA vehicle registrations in France and Denmark fell sharply in November. The registrations dropped by about half compared to last year, as the company continued to lose ground in the European market despite introducing updated versions of its popular Model Y, per Reuters.
Registrations in France declined 58% to 1,593 units, while Denmark saw a 49% drop to 534 units, with the Model Y ranking only 23rd in popularity at 206 units sold.
Per industry group ANFAC, Tesla’s November registrations in Spain slipped 8.75% year over year to 1,523 vehicles. However, January to November sales in Spain were still up 5.56% from a year earlier, even as overall sales of electrified vehicles, including EVs and hybrids, doubled.
Tesla’s share of the European market fell to 1.6% between January and October, down from 2.4% during the same period last year. The decline underscores the brand’s ongoing slump, despite its Model Y SUV being the top-selling vehicle in Europe and globally as recently as 2023.
Tesla introduced cheaper variants of the Model Y and Model 3 in October, although the new Model 3 is not yet available in Europe.
In Denmark, Model 3 registrations rose 29% in November to 326 units, making it the eighth best-selling car. Meanwhile, Model Y registrations tumbled 74%, according to data from Bilstatistik.dk.
Tesla’s Zacks Rank & Key Picks
TSLA carries a Zacks Rank #3 (Hold) at present.
Some better-ranked stocks in the auto space are General Motors Company GM, OPENLANE, Inc. KAR and Garrett Motion Inc. GTX, each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for GM’s 2025 and 2026 EPS has improved 21 cents and 38 cents, respectively, in the past 30 days.
The Zacks Consensus Estimate for KAR’s 2025 sales and earnings implies year-over-year growth of 9.4% and 48.2%, respectively. EPS estimates for 2025 and 2026 have improved 9 cents and 11 cents, respectively, in the past 30 days.
The Zacks Consensus Estimate for GTX’s 2025 sales and earnings implies year-over-year growth of 2.6% and 16.7%, respectively. EPS estimates for 2025 and 2026 have improved 13 cents and 27 cents, respectively, in the past 60 days.
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General Motors Company (GM): Free Stock Analysis Report Tesla, Inc. (TSLA): Free Stock Analysis Report OPENLANE, Inc. (KAR): Free Stock Analysis Report Garrett Motion Inc. (GTX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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