NEW YORK, Feb 2, 2026, 17:50 EST — After-hours
- Tesla shares dropped roughly 2% on Monday, ending the day near $422.
- January registrations climbed in some markets but plunged sharply in Norway and France, often seen as a sales indicator.
- Investors are eyeing steadier demand signals and the upcoming Feb. 14 change in Full Self-Driving pricing.
Tesla shares dropped roughly 2% on Monday, slipping $8.54 to $421.81 in after-hours trading. January registration data from Europe came in mixed, renewing concerns over demand.
Registrations, the tally of vehicles newly recorded by national authorities, serve as a fast indicator of sales. Traders rely on these early figures to judge if order flow is truly stabilising or merely bouncing between months.
Tesla’s main revenue source remains its cars. A weak performance in Europe could quickly spark doubts over pricing, incentives, and short-term margins.
Official figures reveal Tesla’s January registrations jumped 70% in Spain, climbed 26% in Sweden, and edged up 3% in Denmark. But the numbers plunged 88% in Norway and 42% in France, with declines also reported in Portugal, Belgium, and the Netherlands. Despite launching cheaper Model Y and Model 3 variants and facing stiff competition from China’s BYD, Tesla’s European market shrank 27% last year. Reuters highlighted a backlash tied to CEO Elon Musk’s political stance and ties to Donald Trump.
Italy saw a sharp rebound: Tesla’s January registrations jumped 75% year on year to 713 cars, according to ministry data, following an 18% decline for all of 2025. Tesla captured just 0.5% of the Italian market last month, where small volumes can cause big swings in monthly figures.
Tesla slipped even as the S&P 500 rose 0.54% and the Nasdaq added 0.56%. “The fundamentals are good and earnings are strong,” noted Tim Ghriskey of Ingalls & Snyder. Reuters
The story isn’t limited to Europe. In China, BYD shares plunged, dragging down the wider auto sector after the company announced a 30% slump in January sales. “Investors were likely surprised by the large degree of the domestic decline,” said Eugene Hsiao, head of China equity strategy at Macquarie Capital. Reuters
January usually sees light volume, with registrations shifting based on delivery schedules, incentives, and model mix. Investors will be looking for sustained momentum—and fewer fluctuations—before declaring a trend.
Attention shifts to new demand indicators and Tesla’s move to ramp up subscription sales for its software. Starting Feb. 14, the automaker will no longer sell Full Self-Driving as a one-time $8,000 payment.
