SpaceX and Tesla CEO Elon Musk is taking part in the Viva Technology Conference held at the Porte de Versailles Exhibition Centre in Paris on June 16, 2023.
Gonzalo Fuentes | Reuters
Tesla Shares fell more than 4% on Thursday after data from Europe showed continued poor sales for the automaker.
According to data from the European Association of Automobile Manufacturers (ACEA), Tesla EV registrations in Europe, which represent sales, fell by about 23% year-on-year in August.
Last month there were 14,831 Tesla EV registrations in Europe, down from 19,136 in August 2024. During the first eight months of this year, Tesla EV registrations in Europe fell 32.6%.
Meanwhile, total EV registrations across the region increased by about 26% until August compared to the same period in 2024. In contrast, registrations for gasoline and diesel-equipped vehicles have dropped by more than 20% on that stretch.
Still, RBC analysts predicted in a memo on Thursday that Tesla’s total delivery could reach 456,000 in the third quarter.
Analysts are hoping for Tesla bumps as consumers rush to buy EVs in the US before the $7,500 federal tax credit expires at the end of September.
Even on Thursday’s slide, Tesla stocks bouncing off following a brutal start to the year. It’s up 5% in 2025 after a 36% drop in the first quarter.
Mask’s political activities in the US and beyond have hurt the Tesla brand and have reduced its appeal to many future EV buyers.
Earlier this year, Musk approved Germany’s far-right AFD party, and this month he appeared on video at a violent British anti-immigrant rallies. The rally was led by activist Tommy Robinson, a convicted con artist with a violent criminal record.
British Prime Minister Kiel Starmer rebuked the mask for “dangerous” comments made at a rally in which 26 police officers were injured. Musk told attendees “violence is coming to you,” and “You either fight back or die.”
To stimulate interest in the brand, Tesla says a new affordable model is ongoing.
Watch: CFRA downgrades Tesla
