Tesla Faces Loyalty Test in Scandinavia Amid Political Backlash

Tesla's Scandinavian sales plummeted in February, raising concerns about the brand's loyalty amid CEO Elon Musk's controversial political actions. Registration figures showed significant drops in Norway, Sweden, and Denmark. As the company prepares to launch an upgraded Model Y, uncertainty looms over its market position.

Tesla's market share in Scandinavia took a dramatic hit in February, plunging as the electric car manufacturer grapples with decreasing sales and challenges linked to CEO Elon Musk's political involvement in the Trump administration. The decline raises questions about shareholder loyalty and market resilience.

In Sweden, Tesla saw a 42% decrease in registered vehicles, mirroring a 48% drop in Norway and Denmark. Despite an overall rise in electric vehicle demand, Tesla's political entanglements have spurred protests and boycotts, potentially influencing these sharp declines.

As Tesla readies to launch an upgraded Model Y, industry analysts remain skeptical about its ability to reclaim market dominance in Scandinavia, amidst shifting consumer perceptions and an expanding range of competitor models.

(With inputs from agencies.)