Tesla is dealing with an unprecedented boycott.
Protests at showrooms and acts of vandalism in opposition to Tesla autos have popped up all over the world as a result of CEO Elon Musk’s affiliation with President Donald Trump and different far-right events. Musk has additionally been a driving pressure behind the “Department of Government Efficiency,” his government project behind the mass firing of federal workers and potential future cuts to Social Safety. And, after all, throwing up a so-called “Roman salute” gesture has additionally affected Tesla’s gross sales.
The boycott has resulted in Tesla’s EV automotive gross sales dropping by as much as 76 percent in some markets. Nevertheless, it is not simply Tesla’s potential clients who’re turning away from the corporate. Tesla homeowners need out now, too.
According to new data from online car inventory platform Edmunds, March 2025 noticed the best month-to-month share of Tesla trade-ins on file. Drivers have traded in a file variety of Tesla autos this month. Tesla fashions from 2017 or newer have made up 1.4 % of all autos traded in as of March 15.
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That is up by a full share level from final March when Tesla automobiles solely made up 0.4 % of trade-ins.In addition, Edmunds analysts stated that quantity is more likely to go up because the second half of the month rolls on and so they obtain extra trade-in information.
Edmunds says that in February 2025, Tesla made up 1.2 % of all trade-ins, so this month’s numbers have already exceeded final month’s, and there’s loads of time left to go. In response to Edmunds, this information excludes trade-ins in direction of new Tesla purchases, so these aren’t circumstances of consumers buying and selling up for a more recent Tesla car.
Edmunds’ information additionally confirmed that curiosity in shopping for new Tesla autos has dropped to its lowest ranges since October 2022. Automobile patrons who’re contemplating a Tesla car now sit at 1.8 % of buyers. It beforehand peaked in November of final 12 months with 3.3 %.
As for Tesla homeowners seeking to promote their EVs, Mashable previously reported how Tesla consumer automotive costs have cratered as a result of Musk. On common, the worth of used Tesla autos has fallen by 10 %, which is a a lot greater drop in worth than used automobiles made by different automotive manufacturers.
