New York, March 3, 2026, 10:15 (EST) — Regular session
- Tesla shares dropped at the open, with growth stocks broadly under pressure in a wider risk-off swing.
- February registration figures across parts of Europe showed some areas finding their footing, though other regions kept slipping.
- More European data is on tap, with traders also eyeing the Fed’s March 18 decision for direction.
Tesla was down 2.9% to $391.66 in early New York trading Tuesday, sliding from Monday’s $403.32 close. The shares have ranged from $389.79 to $397.40 so far in the session.
Tesla slid, landing the stock back under pressure as traders trimmed positions in high-growth shares. Rising yields, plus pricier energy, tend to weigh on names like Tesla, where high valuations are tied to future profits.
Tesla’s push to reassure investors on stable demand hangs in the balance—another hefty price cut isn’t in the plan. But any big-picture shock will usually eclipse those company-level narratives, at least temporarily.
Europe’s February registration numbers told a mixed story. Tesla registrations shot up 55% in France, and Portugal saw them more than double, according to Reuters. Spain, Norway, and Belgium also posted increases. But the picture wasn’t all bright: registrations slumped 45% in the Netherlands, dropped 18% in Denmark, and slipped 7% in Italy. Britain and Germany haven’t reported yet; those numbers are expected later this week. 1
Over in Denmark, the picture looked different. New Tesla registrations in February slipped 18% from a year ago, totaling just 419 cars, according to figures from bilstatistik.dk. 2
Europe’s numbers follow two consecutive years of declines for the region, a period marked by tougher competition and Tesla’s increasingly dated portfolio. Now, with lower-priced Model Y and Model 3 variants landing, investors want to see if these models are driving genuine new demand—not just shuffling existing buyers.
Tesla’s shares tend to move on narrative as much as hard numbers. Over the past year, sentiment has bounced between EV demand, price strategy, and whatever premium investors are willing to pay for autonomy and software.
The long-term wager hasn’t vanished. Morgan Stanley’s Adam Jonas told investors not to expect too much flash from the next Optimus update—he says Tesla is prioritizing what’s easiest to build. 3
The immediate concern is clear enough: a weak set of upcoming Europe data could quickly kill off any “stabilisation” narrative. Should energy prices remain high, Tesla isn’t immune—it could feel the same macro drag weighing on broader markets.
Britain and Germany’s registration updates are on deck later this week, while traders brace for the Federal Reserve’s March 18 policy decision with inflation fears—sparked by energy—still hanging over the market. “It feels like the market is interpreting this as much more of an inflationary shock than a growth shock,” said George Moran, a European macro strategist at RBC Capital Markets. 4
