Tesla, Inc. TSLA expanded its market share across several major European markets in February, which suggests signs of recovery after two consecutive years of declining sales in the region, per Reuters.
In France, the EV manufacturer’s registrations, a sales indicator, jumped 55%, even as most competitors recorded year-over-year declines. Registrations more than doubled compared with February 2024 in Portugal, climbed 74% in Spain, 32% in Norway and 14% in Belgium. However, they dropped 45% in the Netherlands, 18% in Denmark and 7% in Italy. Data from the United Kingdom and Germany, Europe’s two largest auto markets, is expected later this week.
Tesla’s European deliveries declined 27% last year amid intensifying competition, particularly from Chinese EV brands, controversy surrounding Elon Musk’s political views and an aging product portfolio.
In response, the company introduced lower-priced variants of the Model Y and Model 3 in the United States and Europe, with deliveries beginning late last year.
Its market share across the European Union, the United Kingdom and the European Free Trade Association edged down to 0.8% in January from 1% a year earlier. This remains well below its 1.8% share in 2025, 2.5% in 2024 and 2.9% in 2023 when the Model Y SUV ranked as the world’s top-selling vehicle. TSLA carries a Zacks Rank #4 (Sell) at present.
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