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Tesla Faces Record Trade-Ins and Stock Drop as Backlash Against Elon Musk Grows

Consumer boycotts, vandalism, and investor concerns over Musk's political ties have driven a 53% stock plunge and declining interest in Tesla vehicles.

People participate in a "TeslaTakedown" protest against Elon Musk outside of a Tesla dealership in New York, March 1, 2025.
A crowd of about a dozen people set up outside the Tesla dealership in Langley adding their voices to the growing sentiment about the car company's controversial owner.
Tesla customers are looking to trade-in their vehicles at record highs as consumers boycott the company over CEO Elon Musk.
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Overview

  • Tesla trade-ins reached an all-time high in March 2025, with 1.4% of all trade-ins involving Tesla vehicles, up from 0.4% a year ago, according to Edmunds.
  • Interest in purchasing new Tesla vehicles has fallen to its lowest level since October 2022, with only 1.8% of car buyers considering Tesla this month.
  • Tesla's stock value has dropped by 53% in 2025, with retail investors citing Elon Musk's political affiliations and controversial leadership as key factors in their decisions to sell.
  • Protests and vandalism targeting Tesla vehicles and dealerships have escalated, with some vehicles being spray-painted, keyed, and even set on fire.
  • The resale value of Tesla vehicles has declined by 10%, a steeper drop than other automotive brands, as backlash against Musk continues to impact the company.