Tesla's European Struggle: Sinking Sales Amidst Fierce EV Competition

Tesla's sales significantly dropped in several European countries including Sweden, Denmark, Norway, and the Netherlands in October. The decline is attributed to intense competition from new EV models, both from legacy automakers and Chinese brands. Despite this, Tesla remains Norway's leading automaker.

Tesla's sales have sharply declined across several European nations, signaling ongoing challenges for the U.S. electric vehicle maker in the continent. Countries such as Sweden, Denmark, Norway, and the Netherlands reported significant drops in October sales figures.

While Tesla's registrations fell, the EV market in Europe surged with a 119% increase in fully-electric and plug-in hybrid models industry-wide. The dip in Tesla's sales is largely due to an influx of new EV models from both traditional manufacturers and ambitious Chinese newcomers.

Despite the struggles in numerous markets, Tesla continues to lead in Norway, where nearly all new cars sold are EVs. The company's reduced sales figures are reportedly influenced by consumer backlash against CEO Elon Musk's political affiliations.

(With inputs from agencies.)