Tesla's registration figures in Europe for June presented a mixed picture, with several countries posting double-digit gains even as Norway experienced a steep decline.
Norway decline
New Tesla registrations in Norway fell 43% year-over-year in June to 3,222 vehicles, according to data from OFV. The drop represents a significant reversal in a market where Tesla has historically performed strongly.
Gains elsewhere in Europe
By contrast, registrations in France rose sharply, increasing 104.99% compared with the same month a year earlier, based on data from Mobility Sweden. Sweden recorded a 56.3% year-over-year increase, also per Mobility Sweden data. Denmark reported a 39% rise in new Tesla registrations, reaching 1,778 vehicles, according to bilstatistik.dk.
Deliveries outlook
Tesla is expected to report a roughly 5% increase in vehicle deliveries for the second quarter when it announces results on Thursday, with Europe cited as the primary source of growth as higher fuel prices push consumers toward electric vehicles.
Wall Street consensus, compiled from Visible Alpha polling and reported by Reuters, places expected deliveries for the June quarter at 402,780 vehicles. That projection implies a 4.9% increase from the year-ago quarter and a 12.5% rise from the first quarter.
Regional growth dynamics
Deutsche Bank's regional outlook, as cited in available reporting, anticipates Europe will lead growth at nearly 40% year-over-year, helped in part by elevated fuel costs tied to the Iran war that have accelerated demand for both new and used electric vehicles across the continent. The bank sees demand in China growing roughly 3%, while North America is expected to decline about 21% year-over-year.
The noted weakness in the U.S. market is attributed to the expiration in September of the $7,500 federal EV tax credit, a factor that has continued to weigh on domestic demand. To support sales over the past year, Tesla has introduced lower-cost versions of its Model 3 and Model Y.
These registration and delivery trends underscore divergent regional dynamics for Tesla within Europe and globally, with fuel-price-driven demand in Europe offsetting softness expected in North America.