Tesla trade-ins at highest levels ever while consumers boycott Musk

Tesla is going through an unprecedented boycott.

Protests at showrooms and acts of vandalism in opposition to Tesla autos have popped up world wide because of CEO Elon Musk’s affiliation with President Donald Trump and different far-right events. Musk has additionally been a driving power 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. Nonetheless, it isn’t simply Tesla’s potential clients who’re turning away from the corporate. Tesla house owners need out now, too.

According to new data from online car inventory platform Edmunds, March 2025 noticed the very best month-to-month share of Tesla trade-ins on report. Drivers have traded in a report 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.

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 stated that quantity is prone 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’s loads of time left to go. In keeping with Edmunds, this knowledge excludes trade-ins in direction of new Tesla purchases, so these aren’t circumstances of shoppers buying and selling up for a more moderen Tesla car.

Edmunds‘ knowledge 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 house owners trying to promote their EVs, Mashable previously reported how Tesla consumer automotive costs have cratered because 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.