Tesla Trade-Ins Are At An All-Time High, Edmunds Says | EUROtoday

As Tesla CEO Elon Musk implores his workers to not promote their inventory regardless that “it feels like Armageddon,” Tesla homeowners are buying and selling of their autos at report ranges.

That’s in accordance with information tracked by the U.S. automotive buying web site Edmunds, which discovered that March 2025 represents the “highest ever share” on report of Tesla trade-ins towards new or used purchases at dealerships.

Teslas accounted for 1.4% of the vehicles traded in via March 15, up almost 300% from the identical month final yr, when simply 0.4% of trade-ins have been Teslas.

Edmunds’ report additionally famous a decline in curiosity from shoppers who’re curious about related vehicles made by totally different producers. Previously, a car-shopper curious about Ford’s electrical autos, for example, might need thought of an analogous mannequin produced by Tesla ― however that’s additionally on the decline.

While many Tesla homeowners stay fiercely loyal to the model, a lack of exterior curiosity would invariably result in a smaller buyer base, the report warned, although it gained’t occur in a single day.

“Unlike switching smartphone brands or streaming services, replacing a car is a major financial decision, and even the most disillusioned Tesla owners will likely hold onto their vehicles out of necessity,” Jessica Caldwell, Edmunds’ head of insights, informed HuffPost in an e mail.

Shares in Tesla have nearly halved from their Dec., 2024 highs as Musk has taken up residence atop the Trump administration and launched into a chaotic and certain unconstitutional rampage via the federal authorities.

The self-inflicted wound has shocked analysts. At JPMorgan, bankers traced a “simultaneous decline in both Tesla pricing and unit volume” all the way in which again to Musk’s 2022 acquisition of Twitter.

“We struggle to think of anything analogous in the history of the automotive industry, in which a brand has lost so much value so quickly,” they wrote.

In extra unwelcome information for the corporate, Tesla is recalling nearly all of its Cybertrucks, for the eighth time, to repair an exterior piece of stainless-steel trim that may come unglued from the car.

Musk tried to sluggish the bleeding at a shock all-hands assembly Thursday evening, the place he requested Tesla workers to “hang onto their stocks” regardless that “it feels like Armageddon.”

The message hasn’t landed with Tesla brass, nevertheless: Top officers on the firm have unloaded greater than $100 million in inventory since early February.

Meanwhile, the Trump administration has tried to goose the inventory ― with counterproductive outcomes.

In what would look like an enormous battle of curiosity, U.S. Commerce Secretary Howard Lutnick went on Fox News and informed folks to purchase inventory in Tesla.

“Buy Tesla,” Lutnick informed viewers of “Jesse Watters Primetime” on Wednesday evening. “It’s unbelievable that this guy’s stock is this cheap. It’ll never be this cheap again.”