Tesla's Trading Volume Reaches Record Levels Amid Declining Consumer Confidence
25 March 2025 路 Uncategorized 路
Source: 路 https://technews.tw/2025/03/25/tesla-trade-ins-at-highest-levels-ever-while-consumers-boycott-musk/
Although consumers are dissatisfied with Elon Musk's political stance, leading some to initiate boycotts, the trading volume of Teslas reached a historical high in March. According to Edmunds data, models from 2017 onwards accounted for 1.4% of all traded vehicles this month compared to just 0.4% last year at the same time; it is expected that these figures will continue rising throughout the rest of the month.
Despite increased trading volume, interest in purchasing new Teslas has dropped to its lowest point since October 2022, with only 1.8% of consumers considering buying a Tesla. As boycotts against Tesla intensify, many owners are choosing to sell their electric vehicles and some have shared their experiences on social media expressing disappointment towards Musk.
Joanne Wilson (a former angel investor) mentioned in her blog that she and her husband decided to sell one of their Teslas and considered allowing the public to participate in destroying a second car they own. This action could spark heated discussions online, reflecting broader dissatisfaction with Tesla's leadership under Musk.
Musk addressed his employees at an all-hands meeting recently, urging them to hold onto Tesla stocks despite rising protests. He expressed confidence about the company鈥檚 future prospects and advancements in autonomous driving technology while acknowledging that stock prices have significantly declined over recent months.
However, as consumer sentiment worsens, so does Tesla's brand image with many consumers unhappy regarding Musk's political activities and a decline of 10% on average for used Teslas. All these factors suggest greater challenges ahead for the company.
In this context, Musk鈥檚 leadership style and his relationship with the Trump administration have become focal points; investors and customers are watching closely to see how Tesla will respond to ongoing issues.
Despite increased trading volume, interest in purchasing new Teslas has dropped to its lowest point since October 2022, with only 1.8% of consumers considering buying a Tesla. As boycotts against Tesla intensify, many owners are choosing to sell their electric vehicles and some have shared their experiences on social media expressing disappointment towards Musk.
Joanne Wilson (a former angel investor) mentioned in her blog that she and her husband decided to sell one of their Teslas and considered allowing the public to participate in destroying a second car they own. This action could spark heated discussions online, reflecting broader dissatisfaction with Tesla's leadership under Musk.
Musk addressed his employees at an all-hands meeting recently, urging them to hold onto Tesla stocks despite rising protests. He expressed confidence about the company鈥檚 future prospects and advancements in autonomous driving technology while acknowledging that stock prices have significantly declined over recent months.
However, as consumer sentiment worsens, so does Tesla's brand image with many consumers unhappy regarding Musk's political activities and a decline of 10% on average for used Teslas. All these factors suggest greater challenges ahead for the company.
In this context, Musk鈥檚 leadership style and his relationship with the Trump administration have become focal points; investors and customers are watching closely to see how Tesla will respond to ongoing issues.