A record number of Tesla vehicles have been traded in this month as protests grow against CEO Elon Musk’s involvement with the Trump administration and the Department of Government Efficiency (DOGE). According to data from Edmunds, Tesla cars from 2017 and newer made up 1.4 per cent of all vehicles traded in until March 15. This is a sharp increase from 0.4 per cent during the same period last year. Analysts at Edmunds believe this number could rise further in the coming weeks.
Why rise in Tesla cars trade-ins
The surge in trade-ins comes as activists across the US stage demonstrations known as “Tesla Takedown” to protest Musk’s role in cutting federal jobs and canceling contracts that fund global humanitarian programs. Social media has been flooded with posts from Tesla owners giving up their vehicles in anger. In some cases, protesters have set Tesla cars on fire and vandalised showrooms and charging stations.The EV company has already seen a significant drop in sales across Europe, with some countries reporting declines of over 40 per cent. Tesla’s highly anticipated Cybertruck is also struggling, with sales falling short of company projections. In addition, Tesla recently had to recall 46,096 Cybertruck vehicles due to safety concerns.
Why protests against Tesla
People are protesting against Tesla due to Elon Musk’s involvement in DOGE and his growing political ties. Demonstrations have erupted across countries, with Tesla owners distancing themselves from Musk. Several demonstrators have been arrested outside a Tesla dealership in New York City, chanting, ‘We need clean air, not another billionaire.’The backlash intensified after Musk made a controversial gesture at Donald Trump’s inauguration, which some interpreted as a Nazi salute. The incident divided Tesla’s community, leaving many torn between their love for the cars and frustration with Musk.
Elon Musk addresses Tesla employees
Elon Musk recently addressed Tesla employees in an all-hands meeting commending their efforts, highlighting achievements like the rollout of over 7 million vehicles worldwide. While acknowledging the recent stock dive and challenges, Musk emphasised Tesla’s promising future, urging shareholders to hold their shares. He also discussed Tesla’s wins with the Dojo supercomputer, Supercharger network, and robot advancements. ‘Tesla is home to some of the world’s best talent, crafting and building our remarkable products. Your hard work is paying off- great job, everyone,’ Musk highlighted.
