The European market continues to bleed! Tesla, Inc. (TSLA.US) saw a drastic drop in registrations in France and Denmark in November.

Official data shows that Tesla's monthly registrations (an alternative indicator of sales volume) in France and Denmark in November were halved compared to the same period last year. Despite the introduction of the new popular Model Y series, this electric car manufacturer still struggles to reverse its market share loss in Europe. Tesla's monthly registrations in France dropped by 58% to 1,593 units, and decreased by 49% to 534 units in Denmark. In Denmark, the Model Y ranks 23rd in popularity with sales of 206 units. Tesla's growth in Europe slowed down starting from the end of last year, when its CEO Elon Musk openly praised right-wing political figures, sparking protests across Europe. In recent months, Musk has relatively remained silent in politics, but Tesla's European business has not recovered, indicating deeper issues. Analysts point out that the European market is becoming increasingly competitive, especially with new competitors from China, and Tesla's aging model lineup has become a hindrance. Although Musk has focused most of his attention this year on the development of Siasun Robot & Automation and seeking approval from shareholders for his newly formulated compensation plan, Tesla is trying to win back consumers through the redesigned Model Y launched earlier this year. In October, Tesla released lower-priced versions of its flagship models Model Y SUV and Model 3 sedan, but the latter has not yet been launched in Europe. According to data from Bilstatistik.dk, the largest automotive database operator in the Scandinavian region, Model 3's registrations in Denmark increased by 29% to 326 units in November, becoming the country's eighth best-selling model. However, according to Mobility Denmark's data, registrations for the Model Y plummeted by 74%.