Tesla Stock Dips Pre-Market After Sharp Declines In November Registrations In France And Denmark: Report

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While registrations in France and Denmark fell by around 50% in November, registrations in Norway increased by 175%.

  • French registrations fell 58% year-on-year to 1,593 vehicles, while Denmark saw a 49% drop to 534 units.
  • Tesla has delivered 28,606 vehicles year-to-date in Norway, reportedly surpassing the country’s full-year sales record, previously held by Volkswagen in 2016.
  • Stocktwits’ retail sentiment surrounding Tesla remained in the ‘bullish’ territory.
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Tesla Inc.’s (TSLA) European momentum reportedly weakened in November, with registrations in France and Denmark plunging despite the launch of refreshed versions of its best-selling Model Y.

According to a Reuters report, official data showed French registrations down 58% year-on-year to 1,593 vehicles, while Danish registrations fell 49% to 534 units. The Model Y, once the region’s top seller, ranked 23rd in Denmark with 206 units sold. While Model 3 registrations rose 29% in the Scandinavian country, Model Y registrations tumbled 74%.

The declines add to a challenging year for Tesla in Europe, where sales have fallen around 30% through October. 

Record-Breaking Sales In Norway

Norway was a bright spot for the automaker. Tesla saw a 175% increase in registrations to 6,215 new vehicles in November, lifting its year-to-date tally to 28,606 and reportedly exceeding the country’s full-year sales record, previously held by Volkswagen in 2016, with a month to spare.

Norwegian demand surged ahead of a scheduled EV tax increase from January, helping Tesla nearly triple its November sales from a year earlier in a market where fully electric cars accounted for 97.6% of registrations.

How Did Stocktwits Users React?

Retail sentiment on Stocktwits remained in the ‘bullish’ territory over the past 24 hours.

TSLA was down 1.2% in premarket trading on Monday. The stock had gained in the previous four sessions. Tesla stock is also on track to record its first monthly decline in four.

Year-to-date, TSLA shares have gained more than 10%.

For updates and corrections, email newsroom[at]stocktwits[dot]com.<

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