NATIONAL NEWS – Record numbers of Tesla owners have traded in their cars, historic levels during “dark brand crisis tornado”
Laila Kirkpatrick, Staff Writer
Tesla stock has continued to fall and the company’s dealerships have become a common site for protests against Trump and Musk’s destruction and dismantling of the federal government. In the first two weeks of March, Tesla cars from “model year 2017 or newer accounted for 1.4% of all the vehicles traded in. That represents a 0.2% increase from Tesla trade-ins from the prior month. Research data also found that “March’s trade-ins so far would be the highest monthly share Edmunds has on record of Tesla trade-ins toward new or used purchases at dealerships if the trend continues.”
This does not bode well for Tesla’s future as this data has come out on the heels of a major recall of more than 46,000 Cyber Trucks on Thursday. This is the eighth recall since the vehicles began selling over a year ago. This recall was issued because of faulty glue that can allow an exterior panel to come off. All of this and the company’s steadily falling stock have created issues for Tesla that are expected to continue.
A long-time Tesla bull, Wedbush Securities technology analyst Dan Ives, warns that Musks political actions in the Trump administration have pushed Tesla into a “dark brand crisis tornado” that only he can fix.
