Tesla’s relatively quiet execution of its goals in 2023 seemed to have paid off in Europe, with the electric vehicle maker posting impressive sales results in several countries. Over the course of 2023, Tesla, especially its Model Y crossover, proved that electric vehicles could be best-sellers — they just have to be legitimate, compelling cars.
In Sweden, Tesla managed to register 20,330 vehicles in 2023. This number represented a growth of 121.3% year-over-year. Similar to other markets, the Tesla Model Y drove most of the company’s sales in the country, with the all-electric crossover seeing 16,415 registrations during the year, as per data from car.info.
These numbers are particularly impressive considering Tesla Sweden’s ongoing issues with trade union IF Metall, which has made the EV maker’s recent operations more complicated than necessary.
Over in Denmark, the Tesla Model Y also made a huge impact in 2023. The Tesla Model Y was the best-selling car overall in 2023, with 17,955 units sold. This meant that the Model Y outsold popular and significantly more affordable vehicles like the Peugeot 208 and the Ford Kuga, which sold 6,035 and 4,425 units, respectively.
BREAKING: The @Tesla Model Y was Denmark’s best-selling vehicle overall in 2023 ??⚡️ @elonmusk
? Tesla Model Y: 17.955
? Peugeot 208: 6.035
? Ford Kuga: 4.425
Thank you to all the new @Tesla owners who have contributed to this historic milestone! ?
Great job team ??? pic.twitter.com/kDcqtnkdRz— Philip Powers (@PhilipPowerss) January 2, 2024
In a post on LinkedIn, Tesla Regional Lead Kim Gaba Jensen noted that the number of Tesla vehicles on the road in Denmark more than doubled from 29,752 to 59,559 units during 2023.
Norway, which is arguably the EV capital of the world, saw some serious domination from Tesla in 2023 as well. As noted in a Reuters report, Tesla topped Norway’s car sales statistic for the third year in a row, with the company’s overall market share rising to 20% in 2023, a notable improvement from its already impressive 12.2% share in 2022.
Over 80% of new cars sold in Norway are EVs and Tesla is leading the way. pic.twitter.com/89SZiMCB0l— Tesla Owners Silicon Valley (@teslaownersSV) January 2, 2024
The Model Y carried Tesla’s sales in Norway, with the all-electric crossover selling 23,088 units over the year. Its closest rival is the Volkswagen ID.4, which sold 6,614 units in 2023.
In a post on its official Tesla Europe account on X, the social media platform formerly known as Twitter, the electric vehicle maker also confirmed that Tesla was the most-sold vehicle brand in Iceland in 2023. Tesla noted that this milestone effectively broke the previous record held for 33 years.
Tesla is the most sold vehicle brand in Iceland (2023, all segments)—breaking the previous record held for 33 years
Kærar þakkir til allra Tesla eigenda á Íslandi! ✌️— Tesla Europe & Middle East (@teslaeurope) January 2, 2024
Tesla Europe’s results all but prove that there is a legitimate demand for well-designed, proper electric vehicles. The company’s numbers are also especially impressive, considering that Tesla is still just producing premium-priced electric vehicles. Once Tesla starts entering the affordable segment, the company’s numbers will likely reach even greater heights — in Europe and beyond.
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News
Tesla tops American-Made Index for sixth-consecutive year
Tesla is atop the American-Made Index from Cars.com for the sixth-straight year, as the Model 3 and Model Y took the top two spots, respectively.
Last year, the Model 3, Model Y, Model S, and Model X took the top four spots, respectively. The company has routinely performed well in the Index. However, Tesla discontinued its flagship Model S and Model X earlier this year, which took the two cars out of the ranking.
Cybertruck is not considered due to its curb weight being above the 8,500-pound threshold, which eliminates it from being required to have more detailed assembly information.
Cars.com uses five main categories to develop its rankings:
- Location(s) of final assembly
- Percentage of U.S. and Canadian parts
- Countries of origin for all available engines
- Countries of origin for all available transmissions
- U.S. manufacturing workforce
These five major factors are then put into a 100-point scale. The vehicles with the highest scores sit atop the list. The Model 3 edged out the Model Y.
🇺🇸 The Tesla Model 3 and Tesla Model Y have been put atop the American-Made Index from https://t.co/PXZ0g1pPb6, meaning they are the most American vehicles you can possibly buy.
This is the SIXTH-STRAIGHT year a Tesla has been listed as the most American-made vehicle: pic.twitter.com/HyraOmaxSL
— TESLARATI (@Teslarati) June 23, 2026
Tesla uses a strong domestic strategy to build its cars and parts domestically. It relies on intense vertical integration that reduces its dependence on global suppliers, keeping more value and jobs in the United States.
This strategy has helped Tesla gain a strong reputation for domestically produced vehicles and parts. However, it helps it with more than just awards like this one. Keeping a supply chain local has also helped insulate Tesla more than others from tariffs and supply chain disruptions.
This year’s American-Made Index from Cars.com studied nearly 400 vehicles from the 2026 model year. Tesla was the only manufacturer to have an EV inside the Top 10. The Kia EV9 was the next EV to make the list, scoring the 17th position.
The Hyundai IONIQ 5 was 21st, and the final EV to make the list was the Cadillac LYRIQ in 77th.
Elon Musk
Tesla finally clarifies fatal Texas crash, confirms driver manually overrode acceleration
Tesla has finally clarified the situation regarding the viral crash in Texas where a Model 3 slammed into a home.
CEO Elon Musk replied to reports on Monday that stated the crash was due to the company’s Full Self-Driving or Autopilot suite, which seemed unlikely to those who are familiar with it. Video showed the car slamming into a house at an excessive rate of speed, making it highly unlikely the crash was due to the suite’s operation, as it does not travel at those speeds in residential areas.
Musk said:
“This makes no sense. FSD drives slowly through neighborhood streets, and this was a high-speed crash!”
Tesla’s Head of AI, Ashok Elluswamy, added context, revealing that the company’s data shows the driver “manually overrode self-driving by pressing the accelerator all the way to 100%.”
He revealed the speed reached by the car was 73 MPH, and the accelerator was still pressed “even after the crash.”
Yup. In this case, the driver manually overrode self-driving by pressing the accelerator all the way to 100% of the accel pedal in this residential area. They reached a speed of 73 mph during the crash, and had the accelerator pressed even after the crash.
— Ashok Elluswamy (@aelluswamy) June 22, 2026
Authorities are reportedly investigating “whether Tesla’s Autopilot system played a role after a Model 3 left the roadway…slammed through a brick house at high speed and fatally struck Matha Avila as she sat inside,” the New York Post reported.
The National Highway Traffic Safety Administration (NHTSA) is now investigating the crash. Tesla will work with the agency to provide them with whatever information they need in order to clarify the cause of the crash.
Similarly, Tesla had claims of a fatal accident in Harris County, Texas, a few years ago. Early reports indicated that Full Self-Driving was the cause of the crash. After the National Transportation Safety Board (NTSB) worked with Tesla, the agency proved there was “no use of the Autopilot system at any time during this ownership period of the vehicle, including the time frame up to the last transmitted timestamp on April 17, 2021.”
Tesla alleged “driverless” crash in Texas: What is known so far
“Application of the accelerator pedal was found to be as high as 98.8 percent,” the NTSB said in their findings. The highest recorded speed in the five seconds leading up to the impact was 67 miles per hour. The area where the crash occurred is residential, and Texas State laws have default speed limits of 30 MPH in residential streets.
This appears to be a similar situation. However, an investigation will prove what happened for sure.
Investor's Corner
SpaceX makes $20 billion move to optimize its balance sheet
SpaceX announced today that it commenced its first-ever public bond offering, marking a significant step in the newly public company’s capital markets strategy.
The company announced an offering of senior unsecured notes expected to raise at least $20 billion.
The move comes just a short time after SpaceX completed one of the largest initial public offerings in history. In mid-June, the company priced shares at $135 and raised more than $85 billion, propelling founder Elon Musk’s net worth past the trillion-dollar mark and giving the firm substantial liquidity.
🚨 SpaceX has announced its inaugural offering of senior unsecured notes.
The net proceeds will be used to repay outstanding loans under its bridge loan facility in full.
This inaugural debt offering represents a financing milestone for SpaceX, which previously depended… pic.twitter.com/pcOZuVbTRv
— TESLARATI (@Teslarati) June 22, 2026
According to the company’s SEC filing, the net proceeds from the notes will be used primarily to repay in full the outstanding borrowings under its existing bridge loan facility, cover related fees and expenses, and fund general corporate purposes. The offering is being conducted under Rule 144A, as well as Regulation S, targeting qualified institutional buyers and non-U.S. investors. Notes will be unsecured obligations ranking equally with other unsubordinated debt.
The $20 billion bridge loan was used to refinance approximately $17.5 billion in higher-cost “junk” debt tied to X and xAI. SpaceX had merged with xAI in February 2026 in an all-stock deal. The bridge facility, which matures in September 2027, had represented the bulk of SpaceX’s long-term debt.
SpaceX officially acquires xAI, merging rockets with AI expertise
In connection with the bond launch, SpaceX disclosed it held approximately $100.8 billion in cash and cash equivalents as of June 19. Investor calls began on the announcement date, with pricing and launch expected shortly thereafter. Rating agencies have assigned investment-grade ratings to the proposed bonds, reflecting confidence in SpaceX’s dominant position in commercial launches and the growth trajectory of its Starlink internet offering.
The debt raise also allows SpaceX to optimize its balance sheet by replacing short-term, higher-cost bridge financing with longer-date, lower-cost fixed-income securities. This provides greater financial flexibility to support capital-intensive initiatives, including the development of Starship, the expansion of the Starlink constellation, and the integration of AI capabilities following the xAI combination.
SpaceX shares (NASDAQ: SPCX) fell sharply on the news, dropping over 16 percent overall on the market on Monday. The stock had surged initially after debuting but pulled back amid profit-taking and broader market dynamics.
Overall, the bond offering underscores SpaceX’s transition to a mature public company with access to diverse funding sources. It positions the firm to pursue its long-term vision of multiplanetary expansion and AI infrastructure, while maintaining a disciplined approach to its capital structure in a high-growth but capital-heavy industry.