Tesla's stock hits sixth straight gain as EV competition heats up in Europe

Tesla’s stock continued its upward trend on Thursday, closing at $442.10 after a 0.4% rise. This marked the sixth straight day of gains for the electric vehicle maker. Meanwhile, broader markets also climbed, with the S&P 500 and Nasdaq hitting fresh record highs. The company’s market value stood at around $1.56 trillion by the end of trading. Throughout the day, Tesla’s share price moved within a narrow band, fluctuating between $432.66 and $443.95.

Investors remain focused on Tesla’s recent performance signals. Production figures for the first quarter of 2026 showed over 408,000 vehicles built, though only about 358,000 were delivered. This gap has raised questions about efficiency and demand.

In Europe, Tesla saw a sharp increase in vehicle registrations, jumping 46.5% in April 2026. Despite this growth, Chinese rival BYD expanded even faster, more than doubling its European registrations to 27,008 vehicles in the same month. Overall, battery-electric vehicles accounted for 19.7% of Europe’s car market in the first four months of the year.

Yet, concerns persist around Tesla’s Full Self-Driving (FSD) technology. Critics continue to challenge the company’s claims about safety and performance, adding uncertainty to its long-term outlook. Tesla’s recent stock gains reflect optimism about its delivery recovery and market position. However, production challenges and ongoing scrutiny of FSD technology remain key factors for investors. The company’s performance in Europe, while strong, also faces rising competition from manufacturers like BYD.