Tesla owners exchange their electric vehicles at record levels, says Edmunds

As Elon Musk ends his second month in the White House, Tesla The owners exchange their electric vehicles at record levels, according to an analysis of the EDMUN national car purchase site.

The data of Edmunds published Thursday said that March represented “the highest share of all the time she had seen for the exchanges of Tesla to new cars or used dealers selling other brands.

Since he went to Washington, DC, in January as a central figure of the second Trump administration, Musk, CEO of Tesla, has been cut Federal workforce and public spending, and has had access to sensitive IT systems and government data, although its efforts have been challenged several times before the court.

Before assuming the leadership of the so-called Ministry of Government efficiency, or DOGE, Musk spent around 290 million dollars last year to help propel President Donald Trump Back to the White House.

While investors took stock of Tesla after Trump’s victory in November, they were rush for recently outingsPushing the price of action down 42% this year. The waves of protests targeted Tesla’s facilities in the United States and beyond. Other criminal acts vandalism And a criminal fire targeted Tesla stores, vehicles and charging stations across the United States

In addition, Tesla faces increased competition from electric vehicle manufacturers. In January, S&P Global Mobility noted that Tesla sales decreased by around 11% from one year to the other in the United States, while FordChevrolet and Volkswagen have reinforced their EV sales, picking up market share.

“Tesla’s feeling of consumers’ feeling could create an opportunity for inherited car manufacturers and EV startups to gain ground,” wrote Jessica Caldwell, information manager at Edmunds. “Like the loyalty and interest deadlines of the Tesla brand, those that offer competitive prices, new technologies or simply less controversy could capture owners of Tesla and electric vehicle buyers for the first time.”

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

Edmunds also said that the purchase of new models of Tesla vehicles on its platform had fallen at its lowest level last month since October 2022 after having culminated at the end of November.

Even before Musk begins to head towards Doge, Tesla The brand suffered. Its brand value fell by 26%, or about $ 15 billion, in 2024, a second consecutive annual decline, according to the research and consulting company Brand Finance.

Many car buyers exchange in their Tesla electric vehicles for a new Tesla model. Edmund’s data did not take into account these transactions.

Tesla did not immediately respond to a request for comments.