Tesla's Nordic sales rebound continues in October on easy comparables, higher fuel prices, and subsidies

Stock News17:08

Tesla (TSLA.US) saw new vehicle registrations rise across several Nordic markets in October, extending the recovery momentum for the U.S. electric vehicle maker in the region.

According to data from Swedish transport analysis firm Mobility Sweden, Norwegian statistics agency OFV, and Danish vehicle data platform bilstatistik.dk, Tesla's registrations surged 248% in Sweden, climbed 131% in Norway, and increased 34% in Denmark.

The rebound was supported by a low base in the year-ago period, higher fuel prices, government incentives, and continued growth in electric vehicle demand.

Registration data for the UK and Germany, Europe's two largest auto markets, are due later this week.

Tesla said in October that its backlog of passenger vehicle orders reached a four-year high at the end of the third quarter.

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