David Bridges
Tesla is currently experiencing a significant and widespread boycott that is impacting its operations globally.
Protests have erupted at Tesla showrooms, accompanied by acts of vandalism targeted at Tesla vehicles, all spurred by CEO Elon Musk’s controversial ties to President Donald Trump and various far-right political groups. Furthermore, Musk’s role in the establishment of the “Department of Government Efficiency” has raised concerns, particularly regarding the mass layoffs of federal workers and potential cuts to essential programs like Social Security. Additionally, Musk’s public displays, including a gesture likened to a “Roman salute,” have further tarnished Tesla’s reputation, leading to a notable decline in sales.
This boycott has had a pronounced effect, with reports indicating that Tesla’s electric vehicle (EV) sales have plummeted by as much as 76 percent in certain markets. However, the repercussions are not limited to potential customers; even existing Tesla owners are seeking to divest from the brand.
Tesla is somehow missing $1.4 billion
Recent findings from Edmunds, an online car inventory platform, reveal that March 2025 has recorded the highest monthly share of Tesla trade-ins ever. An unprecedented number of drivers have chosen to trade in their Tesla vehicles this month, with models from 2017 and newer constituting 1.4 percent of all vehicles traded in as of March 15. This marked increase signals a growing trend among Tesla owners.
Mashable Light Speed
This figure represents a one-point increase from March of the previous year, where Tesla vehicles constituted only 0.4 percent of trade-ins. Furthermore, analysts at Edmunds anticipate that this number could increase as more trade-in data becomes available in the latter half of the month, indicating a potential upward trend in Tesla trade-ins.
In February 2025, Tesla accounted for 1.2 percent of all trade-ins, which means that this month’s figures have already surpassed those of the previous month, with plenty of time remaining for additional trade-ins to be processed. It’s essential to note that this data does not include trade-ins for new Tesla purchases, indicating that these transactions do not represent customers merely upgrading to newer Tesla models.
Moreover, data from Edmunds indicates a significant decline in interest for new Tesla vehicles, reaching its lowest point since October 2022. Currently, only 1.8 percent of car buyers are considering a Tesla, a stark contrast to the peak of 3.3 percent recorded in November of the previous year, highlighting a dramatic shift in consumer sentiment.
For Tesla owners contemplating selling their EVs, previous reports from Mashable have indicated a troubling trend: the prices of used Tesla vehicles have sharply declined under Musk’s leadership. On average, the value of used Tesla cars has dropped by 10 percent, a stark contrast to the depreciation rates of used vehicles from other automotive manufacturers, reflecting a significant loss of confidence among consumers.
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