• Tesla's Model 3 Standard sells for $36,990 in the U.S.
• Tesla also launched the Model Y Standard in the UK, priced at £41,990.
• The EV maker is looking to arrest declining sales across key markets in Europe, including France and Germany.

A new budget-friendly Model 3 variant has hit Europe as Tesla Inc. (TSLA) scrambles to regain momentum after steep sales declines in November. It launched a lower-priced version of its Model 3 in Europe on Friday. The EV maker reported depleted registrations in November across key markets, including France and Germany, amid intense competition from Chinese rivals such as BYD.  

According to Tesla's website, the new Model 3 Standard is priced at €37,970 ($44,229) in Germany, while Norwegian buyers will pay 330,056 Krones, and Swedish customers will have to shell out 449,990 Kronas.

The Model 3 Standard, which debuted in the United States in October, currently sells for $36,990 in the country. Tesla also offers the higher-priced Premium and Performance variants.

Separately, the automaker also launched the Model Y Standard in the UK, priced at £41,990. The launch follows Tesla's rollout of a more affordable Model Y variant across Europe in October.

Bid To Boost European Sales?

Tesla's slowdown in Europe deepened in November, with sharp declines across several key markets. In France, registrations dropped 58% from a year earlier to just 1,593 vehicles, while Denmark saw a 49% slide to 534 units. The Model Y, previously Denmark's top-selling car, tumbled to 23rd place with only 206 registrations. Although the Model 3 posted a 29% increase in Denmark, it wasn't enough to offset a steep 74% plunge in Model Y sales.

In Germany, Tesla's registrations fell 20% year-on-year in November, even as the broader battery-electric vehicle (BEV) market registrations surged 58.5%. Chinese EV maker BYD saw 4,026 new registrations in Germany, a staggering 834% increase over last year.

In the UK, November registrations of Tesla cars fell 19%, according to preliminary data from research group New AutoMotive.

The latest figures add to what has been a challenging year for Tesla in Europe, with overall regional sales down roughly 30% through October.

How Did Stocktwits Users React?

Retail sentiment for TSLA on StockTwits has remained 'bullish' for some time. It was 'bearish' a month back.

The stock was up marginally at premarket trading on Friday, and has seen a 16% increase so far this year.

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