Tesla is going through an unprecedented boycott.
Protests at showrooms and acts of vandalism towards Tesla autos have popped up all over the world as a consequence of CEO Elon Musk’s affiliation with President Donald Trump and different far-right events. Musk has additionally been a driving drive behind the “Division of Authorities Effectivity,” his authorities undertaking behind the mass firing of federal staff and potential future cuts to Social Safety. And, in fact, throwing up a so-called “Roman salute” gesture has additionally affected Tesla’s gross sales.
The boycott has resulted in Tesla’s EV automobile gross sales dropping by as a lot as 76 % in some markets. Nonetheless, it is not simply Tesla’s potential prospects who’re turning away from the corporate. Tesla homeowners need out now, too.
Tesla is someway lacking $1.4 billion
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 proportion level from final March when Tesla automobiles solely made up 0.4 % of trade-ins.In addition, Edmunds analysts mentioned that quantity is more likely to go up because the second half of the month rolls on they usually obtain extra trade-in knowledge.
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 may be loads of time left to go. In line with Edmunds, this knowledge excludes trade-ins in the direction of new Tesla purchases, so these aren’t instances of shoppers buying and selling up for a more moderen Tesla automobile.
Edmunds’ knowledge additionally confirmed that curiosity in shopping for new Tesla autos has dropped to its lowest ranges since October 2022. Automotive consumers who’re contemplating a Tesla automobile now sit at 1.8 % of buyers. It beforehand peaked in November of final yr with 3.3 %.
As for Tesla homeowners trying to promote their EVs, Mashable beforehand reported how Tesla person automobile costs have cratered as a consequence of Musk. On common, the worth of used Tesla autos has fallen by 10 %, which is a a lot larger drop in worth than used automobiles made by different automotive manufacturers.
