Tesla is facing an unprecedented global boycott due to CEO Elon Musk’s affiliation with far-right parties and his government project, the “Department of Government Efficiency,” which led to mass firings of federal workers and potential cuts to Social Security. This has resulted in a 76% drop in EV car sales in some markets.
Not only are new customers turning away, but Tesla owners are also seeking to sell their vehicles, with used Tesla prices plummeting by 10%. According to data from online car inventory platform Edmunds, the number of Tesla trade-ins reached a record high in March 2025, accounting for 1.4% of all traded-in vehicles.
This represents a significant increase from last year’s numbers, with Tesla models from 2017 or newer making up 0.4% of trade-ins in February 2025. The data excludes new Tesla purchases and shows that interest in buying new Tesla vehicles has reached its lowest levels since October 2022.
Source: https://mashable.com/article/tesla-trade-ins-record-high-elon-musk-boycott