In this articleTSLA your favorite stocksCREATE FREE ACCOUNTElon Musk, CEO of SpaceX and Tesla, attends the Viva nology conference at the Porte de Versailles exhibition center in Paris on June 16, 2023.Gonzalo Fuentes | ReutersTesla s fell more than 4% on Thursday after data out of Europe showed a continuing sales slump for the automaker, despite strong demand for fully electric vehicles in the region.
Tesla EV registrations in Europe, a xy for sales, fell by 23% year-over-year in August, according to data from the European Automobile Manufacturers' Association (ACEA) on Thursday.There were 14,831 Tesla EV registrations in Europe last month, down from 19,136 in August 2024.
In the first eight months of this year, Tesla EV registrations in Europe declined 32.6%, the ACEA said.Meanwhile, total EV registrations throughout the region rose by around 26% through August compared to the same period in 2024.
By contrast, registrations for petrol and diesel-powered vehicles declined by more than 20% over that stretch.Still, RBC analysts wrote in a note on Thursday that they expect Tesla's total deries for the third quarter could amount to 456,000, above a FactSet-compiled consensus of 448,000 deries and a Visible Alpha consensus of 440,000 deries.The analysts expect a bump for Tesla as consumers rush to buy EVs in the U.S.
before a $7,500 federal tax credit expires at the end of September.Even with Thursday's slide, Tesla's stock has bounced back ing a brutal start to the year.
It's now up 5% in 2025 after plunging 36% in the first quarter.Musk's political activism in the U.S.
and beyond has hurt the Tesla brand and dampened its appeal to many spective EV buyers.Earlier this year, Musk endorsed Germany's far-right AfD party, and this month he appeared by at an anti-immigrant rally in the U.K.
that turned violent.
The rally was led by activist Tommy Robinson, a convicted fraudster with a violent criminal record.British Prime Minister Keir Starmer rebuked Musk for "dangerous" s that he made at the rally, where 26 police officers were injured.
Musk told attendees, "violence is coming to you" and "you either fight back or you die."To revitalize interest in the brand, Tesla has said an affordable new model is in the works, which could help it fend off increased competition from the s of Volkswagen, BYD and other EV makers that have been picking up market .
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