Published Date: March 15, 2025
Author: Global World Citizen News Team
Source: GlobalWorldCitizen.com
Tesla Resale Prices Plummet Amid Political and Economic Backlash
Tesla owners are flooding the used car market, driving down prices and raising concerns about the brand’s future. This shift comes amid CEO Elon Musk’s increasing political influence as a key figure in the Trump administration, sparking financial uncertainty, protests, and consumer backlash.
Why This Matters
Elon Musk’s net worth is closely tied to Tesla’s stock performance, which has taken a hit over the past two weeks as he deepens his political ties. The drop in Tesla sales and stock value signals not only financial concerns but also a cultural shift, as protests and vandalism target the brand as a symbol of Musk and Trump’s policies.
Tesla’s Resale Value Takes a Hit
According to CarGurus, Teslas are now the most common electric vehicles in the used car market, leading to an oversupply that is driving prices down.
- A used Tesla now costs $10,000 less on average compared to other electric brands.
- In 2024, Hertz offloaded 30,000 Teslas, adding to the growing inventory of used vehicles.
- Currently, over 14,000 used Teslas are listed for sale in the U.S., with prices averaging $30,000—a dramatic drop from the $70,000 average in 2022.
- Tesla’s resale decline coincides with Musk’s growing political role, according to Business Insider.
Growing Backlash Against Tesla
San Francisco, a hub for tech professionals and progressives, has become a hotspot for Tesla owners abandoning their vehicles in favor of other brands.
“I got my Tesla in March of last year, before I knew Elon was crazy,” said one former owner, who traded his Model 3 for a BMW despite still owing money on his lease.
San Francisco dealerships report a surge in Tesla trade-ins:
- Audi San Francisco: Reports five Tesla trades per week—and rising.
- Mercedes-Benz dealers: Confirm a noticeable increase in Tesla trade-ins.
Even celebrities are joining the movement. Singer Sheryl Crow publicly announced she had sold her Tesla, stating:
“There comes a time when you have to decide who you align with. So long, Tesla.”
She donated the proceeds to National Public Radio (NPR), citing concerns about Musk’s influence over public discourse.
Tesla’s European Decline
Beyond the U.S., Tesla’s global demand is falling, particularly in Europe, following Musk’s controversial intervention in German politics.
Tesla registrations dropped significantly in:
- Netherlands, Sweden, Denmark, Norway: Down 40% in the past year.
- Spain: Witnessed a staggering 75% decline in Tesla sales.
- Germany: Tesla protests have intensified, with activists linking Musk’s political gestures to far-right ideology.
One Tesla factory in Germany was even targeted with a projected protest message reading “Heil Tesla” in response to Musk’s actions.
The Data Speaks: Tesla Owners Are Losing Confidence
A recent Dutch study revealed:
- 30% of Tesla owners are considering selling their cars.
- The #1 reason cited? Elon Musk’s personal reputation.
“Musk abuses his power. If I had known what he is like now, I would never have bought a Tesla.” — Dutch Tesla owner, as reported by EenVandaag.
What Musk and Trump Are Saying
Elon Musk dismissed criticisms of his political involvement, posting on X (formerly Twitter): “Frankly, they need better dirty tricks. The ‘everyone is Hitler’ attack is sooo tired. The radical leftists are really upset they had to take time out of their busy day praising Hamas to call me a Nazi.”
President Donald Trump, addressing violent attacks on Tesla vehicles, pledged to classify violence against Tesla as a terrorism charge, stating: “I will do that. I’m going to stop them. Because they are harming a great American company. It’s a great product, and we have to celebrate [Musk].”
What’s Next for Tesla?
The fate of Tesla may depend on:
How long Musk remains in his dual role as Tesla CEO and head of the Department of Government Efficiency.
Whether Tesla can win back consumer trust despite Musk’s political actions.
If global backlash will continue to drive sales and stock value down.
For now, one thing is clear: Tesla’s golden era is facing a major reckoning.