Norway's annual sales have broken records ahead of schedule, Tesla, Inc. (TSLA.US) is experiencing a "double-edged sword" in Europe.

Registration data shows that electric car manufacturer Tesla, Inc. (TSLA.US) has exceeded the previous annual sales record of any other car manufacturer in Norway in 2025, setting a new annual sales record for the country with one month remaining in the year, bringing a rare highlight for CEO Elon Musk. Despite consumer boycotts in most of Europe due to Musk's support for far-right political parties and backing of US President Trump, Tesla, Inc. saw a year-on-year sales growth of 34.6% in Norway this year, with the mass-market crossover model Model Y leading the sales. According to data from the Norwegian Road Association, Tesla, Inc. registered 6,215 new cars in November, with a total of 28,606 units sold from January to November, surpassing Volkswagen's yearly record of 26,575 units set in 2016. As consumers rush to purchase cars before the planned electric vehicle tax increase scheduled for January next year, overall car sales in Norway increased by 70% in November, with Tesla, Inc. seeing nearly a threefold increase in sales compared to the same period in 2024. Norwegian Road Association CEO Gal Enervestk said: "Norway is currently experiencing a car buying frenzy." Registration data shows that in the previous month, electric cars accounted for 97.6% of new cars sold in this Nordic country, in line with Norway's long-term goal of ending sales of fuel-powered cars by 2025. With strong subsidies for electric vehicles, Norway has become a small yet crucial market for Tesla, Inc. in its rise to become a leading car manufacturer, being its first important market outside of North America over a decade ago. Although sales of the Model Y dipped earlier this year in Norway, they quickly rebounded in the second quarter with the launch of the highly anticipated redesigned model. However, research and consulting firm Visible Alpha predicts a 7% decline in global deliveries for the Texas-based car manufacturer this year. The latest registration data in Europe shows that as of October, Tesla, Inc. saw a 30% decline in sales, which continued in November. In addition, reports have shown that Tesla, Inc. saw a halving of monthly registrations in France and Denmark in November compared to the same period last year, with a 58% drop to 1,593 units in France and a 49% decrease to 534 units in Denmark. Model Y ranked 23rd in popularity in Denmark with 206 units sold.