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Tesla’s price target gets cut by Wells Fargo analyst

Dr.Ev by Dr.Ev
03/16/2025
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Vehicle registration data from Norway and Sweden suggests that Tesla sales are rebounding this March, driven by the new Model Y. The rebound comes after Tesla experienced a downturn in several European markets in the first two months of 2025. 

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Tesla Model Y Reclaims Top Spot in Norway

Tesla’s sales are showing signs of recovery in Norway, the world’s EV stronghold. As per data from Norwegian Electric Vehicle Statistics, which is updated in real time, the new Model Y has surged to the top of registration charts this March. As of writing, Tesla has logged 485 Model Y registrations this month. 

The Model 3 is showing strength in Norway as well, coming in second with 267 units this March so far. For context, the Tesla Model Y only saw 283 registrations in the same period in February, while the Model 3 saw 129.

Credit: Norwegian Electric Vehicle Statistics

Sweden Sees Model Y Registration Rise

The Tesla Model Y is also staging a comeback in Sweden, with the all-electric crossover ranking as the third most registered vehicle through March 12, as per Car.info data cited by CarUp. With 318 units already registered this March, the Model Y has already outpaced January’s total of 299 and is closing in on February’s 479. 

The Tesla Model 3, however, lags with just 60 registrations in March so far. This could be attributed to the fact that the Model 3 is still imported, while the Model Y is produced in Gigafactory Berlin, Tesla’s European factory.

New Model Y Fuels Optimism

Tesla’s rough 2025 start saw sales plummet in markets such as Norway and Sweden, where February losses exceeded 40%. Yet, early March data points to a potential shift, thanks to the start of customer deliveries of the new Model Y. 

While full March outcomes remain uncertain, the upswing in registrations—especially in EV-centric Norway—offers hope that Tesla can reclaim ground lost to rivals in January and February. This could also suggest that Tesla may be able to end Q1 2025 on a strong note.



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