Trade-ins of Tesla vehicles reportedly hit a record high this month as the brand faces off against an ever-growing field of EV competitors — and a fierce political backlash to CEO Elon Musk’s leading role in the Trump administration.
Teslas made up 1.4 percent of all trade-ins tracked through mid-March, according to data from Edmonds, a 0.4 percent rise from the same period a year ago. Buyers interest in Teslas on the Edmunds site, meanwhile, fell to 1.8 percent of searches, the lowest point since October of 2022, and a rapid decline from the brand’s 3.3 percent search share in November around the 2024 election.
