Tesla owners trade in their EV at record levels, says Edmonds

AS Elon Musk Ends his second month in the White House, Tesla The owners are trading their electric vehicles at record levels, according to an analysis of the national Edmunds car shopping site.

Edmunds data, published on Thursday, said March is the “highest partition” ever seen for Tesla Trade-Ins to new or used dealers selling other brands.

Ever since he headed for Washington, Colombia County, in January as a central figure in the second Trump administration, Musk, who is CEO of Tesla, was cutting Federal workforce and government costs and have access to sensitive governmental computer systems and data, although its efforts have been repeatedly challenged in court.

Before accepting the leadership of the so -called Ministry of Government Efficiency or Dog, Musk spent about $ 290 million last year to help drive President Donald Trump Back to the White House.

While investors clicked Tesla shares after Trump’s victory in November, they were haste for the exits of latePutting off the price of the shares by 42% this year. The waves of the protests are aimed at Tesla facilities in the United States and outside. Other criminal actions of vandalism and arson have directed the stores, vehicles and charging stations of Tesla

In addition, Tesla faces increased competition by EV Makers. In January, S&P Global Mobility found that Tesla sales had decreased by about 11% compared to a year in the United States while FordChevrolet and Volkswagen have strengthened their EVS sales by raising a market share.

“Tesla Consumer’s mood swings can create the opportunity for inherited car manufacturers and EV start -ups to win a reason,” Jessica Caldwell, Edmunds, wrote in Email. “Because the loyalty of the Tesla brand and interest are diverging, those offering competitive prices, new technology or just less disputes could capture the defect of Tesla owners and EV buyers for the first time.”

The Tesla brand, more than that of any other car manufacturer, is closely linked to its executive director. In August 2024, Edmunds studies found that only 2% of car buyers in the United States were not familiar with Musk.

Edmonds also said that shopping for new Tesla vehicle models on its platform dropped to its largest level last month since October 2022, after reaching a peak in November.

Even before Musk begins to head to Dodge, Tesla The brand sufferedS His brand’s value dropped by 26%, or about $ 15 billion, in 2024, a second direct annual decline, according to scientific and consulting companies to fund the brand.

Many car buyers trade with their Tesla EV for a more Tesla model. Edmunds data does not report these transactions.

Tesla did not immediately answer a request for comment.