After two straight years of losing ground in Europe, Tesla is finally showing signs of a comeback. The electric car giant saw its market share grow in both France and Norway last month, a positive sign that its recent price cuts are starting to work.
In France, the number of new Tesla registrations—a good indicator of actual sales—jumped by a massive 55% in February compared to the same time last year. This is especially impressive because most other car brands in the country actually sold fewer cars during the same period.
This rebound comes after Tesla rolled out cheaper versions of its popular Model Y and Model 3 in both the United States and Europe late last year. The lower price tags seem to be luring back customers who had been turned off by the brand’s previously high costs.
While the overall European numbers for January still showed a slight dip, the strong performance in France and Norway in February suggests that the worst might be over for Tesla.
The company still has a long way to go to reclaim its former glory. Back in 2023, Tesla’s Model Y was the best-selling car in the world, and the company held a 2.9% market share in Europe. That number has since dwindled to just under 1%.
But this recent uptick in sales is the first real good news the company has had in Europe in a long time. It shows that despite growing competition and a sometimes-controversial CEO, there’s still a strong demand for Tesla’s cars, especially when the price is right.
