Tesla (NASDAQ: TSLA) shares were down 1.5% at the time of writing on Monday, March 2, trading at $398.12 even as the company showed signs of stabilization overseas.
More specifically, the electric vehicle (EV) deliveries surged in major European markets, suggesting a gradual rebound despite ongoing industry pressures, as the most recent data first reported by Reuters suggested.
France recorded a robust 55% increase, while Norway posted 32% growth, potentially driven by refreshed Model Y demand and the easing of local subsidy cuts. By contrast, in Denmark, Tesla registrations fell 18% year-over-year to 419 vehicles.
Tesla rebounds in Europe
The latest data thus confirms that Tesla regained the top spot in Norway’s auto market in February. As EVs accounted for more than 98% of new registrations, this is a significant tailwind.
What’s more, the recovery follows a sharp 75% drop in January, when VAT hikes pulled forward late-2025 purchases. The Model Y in particular staged a strong comeback, reclaiming the country’s best-selling vehicle title with 1,073 registrations (roughly 14.8% market share).
Elon Musk’s company thus remains mostly driven by its execution in autonomy, robotaxis, and energy storage. Indeed, the company posted solid fourth-quarter 2025 results on January 28, 2026, reporting revenue of $24.90 billion and adjusted earnings per share of $0.50, above consensus estimates of $0.45.
Full-year deliveries and energy deployments reinforce an optimistic outlook, especially as the company continues to emphasize its involvement in artificial intelligence (AI) infrastructure, Optimus humanoid robotics, and energy storage, which helps broaden its long-term strategy beyond vehicle manufacturing.
Still, geopolitical uncertainty in Iran adds a noticeable layer of uncertainty. That is, while sustained oil price spikes could structurally favor EV adoption, near-term market jitters can weigh on high-multiple growth stocks. Likewise, the car company’s supply chain could also suffer if battery material manufacturers and globally sourced components are disrupted.
Featured image via Shutterstock
