Tesla’s European registration numbers posted a strong rebound in May, led by a 655% year-over-year surge in France, according to data released Monday. The automaker registered 5,446 new vehicles in France, while Denmark saw a 136% climb to 1,750 units, Spain a 113% increase to 1,690, and Sweden a 71% rise to 858 vehicles. These gains come after a difficult 2025 when Tesla lost nearly half its European market share amid competition from Chinese EV brands, a limited model lineup, and backlash over CEO Elon Musk’s political activities.
In Spain alone, sales surged 112.8% year-over-year to 1,690 units, according to industry group ANFAC, bringing the first five months’ growth to 43.8%. The broader electrified vehicle market in Spain expanded 43.6% in the same period. Figures from the UK and Germany – Europe’s two largest auto markets – are still pending and could provide a fuller picture.
Tesla stock (TSLA) opened Monday at $435.79, down 1.3% in premarket trading despite the strong sales data. The dip followed comments from OpenAI CEO Sam Altman about recruiting talent to accelerate the company’s robotics division, directly challenging Tesla’s own humanoid robot program, Optimus. Tesla has increasingly pivoted toward AI-driven businesses, including self-driving and robotaxis, and recently halted Model S and Model X production to convert the Fremont facility for robot manufacturing. Altman’s move adds a new layer to the long-running rivalry with Musk, who previously sued Altman over OpenAI’s transition to a for-profit entity – a case Musk lost.
Wall Street remains divided on TSLA. Of 41 analysts tracked by MarketBeat, 19 rate it a buy, 17 hold, and five sell, with an average price target of $395.20 – below the current price. Wedbush reiterated an outperform rating and $600 target, while JPMorgan maintained a sell. Tesla beat Q1 EPS estimates ($0.41 vs. $0.39) but revenue of $22.39 billion slightly missed expectations. Institutional ownership stands at 66.2%, with Norges Bank initiating an approximately $17.1 billion position and Vanguard growing its stake. Meanwhile, insiders sold over 57,000 shares worth $21.5 million in the past 90 days.
