Tesla is facing challenges in Europe with sales slipping in key markets like France and Denmark. The Model Y has dropped to 23rd place in Denmark, despite efforts to boost sales with price cuts and refreshed versions. To combat this, Tesla is rolling out a low-cost Model 3 Standard in Europe, starting at €37,970 in Germany. This move is aimed at winning back cost-conscious buyers and regaining momentum in the European market.

Tesla’s Q3 earnings report showed a mixed picture, with revenue slipping 12% but cash and investments increasing to $41.6 billion. The company reported 497,099 vehicle deliveries, up 7% from the previous year. Despite slipping sales in Europe, Tesla is aiming to reach 3 million annual units within two years, focusing on AI, autonomy, and energy growth.

In November, Tesla’s sales in Europe declined by 12.3% year-over-year, with key markets like France and Sweden experiencing significant drops. However, Norway saw a 175% increase in registrations as buyers rushed to take advantage of tax benefits. Tesla is countering the sales decline with the launch of the new Model 3 Standard, priced competitively to attract buyers in the cooling EV market.

Analysts are divided on Tesla’s stock, with a “Hold” rating overall. While the stock is trading above its mean price target, there is potential upside with Wedbush’s street-high target of $600 implying a 36.5% increase. Despite challenges, Tesla remains focused on innovation and growth in the EV market.

Read more at Barchart: A Low-Cost Model 3 Just Hit the Streets in Europe. Can That Help Turn Tesla Stock Around?