Tesla Owners Dumping EVs Amid Quality Control Concerns
Record high Tesla trade-ins are being reported by Edmunds, coinciding with Elon Musk’s controversial tenure as head of the Department of Government Efficiency. This surge in trade-ins follows a 42% drop in Tesla’s stock price this year, fueled by public protests and increased competition from other EV manufacturers. The decline in Tesla sales and brand value is attributed, in part, to negative consumer sentiment surrounding Musk’s political activities. Edmunds data suggests a significant shift in consumer preference away from Tesla, creating a market opportunity for competitors.
John Q. Hosedrinker