Data for May indicates that Tesla Motors (NASDAQ: TSLA) saw a year-on-year increase in new vehicle registrations across several European nations, extending the recovery trend for its electric vehicle sales on the continent. Vehicle registration figures are commonly used as a proxy for sales volume.
Figures released on Monday by the Norwegian data agency OFV and the French automotive industry body PFA show that Tesla's new vehicle registrations in France surged 655% year-on-year in May, reaching 5,446 units. In Norway, registrations grew 29% to 3,345 units.
Data from various national automotive industry bodies also reveals that Tesla achieved rapid growth in several smaller European markets. Registrations in Denmark increased 136% to 1,750 units, while Spain saw a 113% rise to 1,690 units. Portugal recorded a substantial 349% jump to 1,463 units, and Sweden experienced a 71% increase to 858 units.
However, Tesla faced some pressure in the Italian market, where May registrations declined 23.5% year-on-year to 654 units. Despite this monthly dip, its cumulative sales for the first five months of the year still show growth of over 15% compared to the same period in the previous year.
Concurrently, the broader electrified vehicle market in Europe maintained its expansion. According to data from the European Automobile Manufacturers' Association (ACEA), registrations for all types of electrified vehicles—including battery electric, plug-in hybrid, and hybrid models—increased by approximately 21% year-on-year in April. These vehicles accounted for over two-thirds of total new car registrations.
This market growth is primarily driven by factors such as supportive government policies, purchase incentives, and rising fuel costs, which are encouraging consumers to switch to lower-emission vehicles.
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